Neogen Corporation (NEOG)

Receivables turnover

		Nov 30, 2024	Aug 31, 2024	Feb 29, 2024	Nov 30, 2023	Aug 31, 2023	May 31, 2023	Feb 28, 2023	Nov 30, 2022	Aug 31, 2022	May 31, 2022	Feb 28, 2022	Nov 30, 2021	Aug 31, 2021	May 31, 2021	Feb 28, 2021	Nov 30, 2020	Aug 31, 2020	May 31, 2020	Feb 29, 2020	Nov 30, 2019
Revenue (ttm)	US$ in thousands	1,792,485	1,780,298	1,817,638	1,800,899	1,778,001	1,592,370	1,401,365	1,227,465	1,062,406	1,054,318	901,557	761,778	730,744	692,784	674,433	757,462	743,068	727,266	727,954	723,616
Receivables	US$ in thousands	164,086	167,639	173,592	150,498	137,669	153,253	146,393	142,711	93,112	99,674	92,978	92,498	87,291	91,823	87,241	79,931	77,685	84,681	80,692	85,377
Receivables turnover		10.92	10.62	10.47	11.97	12.92	10.39	9.57	8.60	11.41	10.58	9.70	8.24	8.37	7.54	7.73	9.48	9.57	8.59	9.02	8.48

November 30, 2024 calculation

Receivables turnover = Revenue (ttm) ÷ Receivables
= $1,792,485K ÷ $164,086K
= 10.92

Neogen Corporation's receivables turnover ratio has shown fluctuations over the past few years. The ratio measures the company's efficiency in collecting payments from customers. A higher turnover ratio indicates that the company is able to efficiently convert its accounts receivable into cash.

From November 2019 to February 2022, the receivables turnover ratio ranged from 7.73 to 10.58, showing some variability in the collection efficiency over these periods. The ratio peaked at 11.41 in August 2022, which could indicate that Neogen Corporation was effectively managing its receivables during that period.

In the subsequent quarters, the receivables turnover ratio decreased slightly, hovering between 8.24 and 10.92. The ratio hit its lowest point at 7.54 in May 2021 before picking up again.

Overall, the trend in Neogen Corporation's receivables turnover ratio suggests that the company has been able to maintain a relatively healthy level of collection efficiency over the analyzed periods. However, it is important for the company to monitor this ratio regularly to ensure efficient management of accounts receivable and timely collection of payments.