Neogen Corporation (NEOG)
Receivables turnover
| 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 | Aug 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 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 | 722,206 |
| Receivables | US$ in thousands | 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 | 79,112 |
| Receivables turnover | 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 | 9.13 |
August 31, 2024 calculation
Receivables turnover = Revenue (ttm) ÷ Receivables
= $1,780,298K ÷ $167,639K
= 10.62
Neogen Corporation's receivables turnover ratio, which measures how efficiently the company is collecting payments from its customers, has shown fluctuations over the past few reporting periods. The ratio hovered around 9 to 12 times per year, indicating that on average, Neogen converted its accounts receivable into cash approximately 9 to 12 times a year.
In the most recent period, the receivables turnover was 10.62, a slight increase from the previous period's 10.47. This suggests that the company improved its efficiency in collecting receivables relative to the prior period. However, the ratio should be analyzed in conjunction with other factors like industry benchmarks and company-specific dynamics for a more comprehensive understanding of Neogen's receivables management.
Overall, the trend in Neogen Corporation's receivables turnover indicates a generally efficient collection process, with some variability over time. Further investigation into the underlying reasons for these fluctuations could provide valuable insights into the company's receivables management practices and potential areas for improvement.
Peer comparison
Aug 31, 2024