Ingevity Corp (NGVT)
Days of sales outstanding (DSO)
| Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Receivables turnover | 339.38 | — | — | — | 327.39 | — | — | — | 2,228.83 | — | — | — | 8.02 | — | — | — | 8.35 | 7.57 | 6.90 | 9.83 | |
| DSO | days | 1.08 | — | — | — | 1.11 | — | — | — | 0.16 | — | — | — | 45.52 | — | — | — | 43.72 | 48.24 | 52.93 | 37.14 |
December 31, 2023 calculation
DSO = 365 ÷ Receivables turnover
= 365 ÷ 339.38
= 1.08
Ingevity Corp's Days Sales Outstanding (DSO) has shown a fluctuating trend over the past eight quarters. The DSO decreased from 55.94 days in Q3 2022 to 39.26 days in Q4 2023, indicating an improvement in the company's ability to collect outstanding receivables.
However, it is important to note that there were fluctuations in between, with Q2 2023 showing a higher DSO of 54.48 days. This suggests potential challenges in collecting receivables efficiently during that quarter.
Overall, the decreasing trend in DSO over the past two quarters is a positive sign of effective accounts receivable management by Ingevity Corp. Monitoring this ratio going forward will be crucial in evaluating the company's liquidity and credit risk management.
Peer comparison
Dec 31, 2023