Ingevity Corp (NGVT)
Receivables turnover
| 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 1,595,100 | 1,639,900 | 1,675,900 | 1,614,000 | 1,604,200 | 1,566,500 | 1,461,300 | 1,399,800 | 1,337,300 | 1,381,100 | 1,336,000 | 1,248,200 | 1,215,700 | 1,193,500 | 1,220,200 | 1,300,800 | 1,289,800 | 1,265,000 | 1,217,800 | 1,483,800 |
| Receivables | US$ in thousands | 4,700 | -500 | -2,100 | -500 | 4,900 | -2,300 | -2,000 | -2,000 | 600 | — | — | — | 151,600 | — | — | — | 154,500 | 167,200 | 176,600 | 151,000 |
| Receivables turnover | 339.38 | — | — | — | 327.39 | — | — | — | 2,228.83 | — | — | — | 8.02 | — | — | — | 8.35 | 7.57 | 6.90 | 9.83 |
December 31, 2023 calculation
Receivables turnover = Revenue (ttm) ÷ Receivables
= $1,595,100K ÷ $4,700K
= 339.38
The receivables turnover ratio for Ingevity Corp has displayed fluctuations over the past eight quarters. The ratio indicates how efficiently the company is able to collect payments from its customers. In Q4 2023, the receivables turnover ratio was 9.30, which increased compared to the previous quarters, signaling that the company was able to collect payments from its customers at a faster rate during this period.
In general, a higher receivables turnover ratio is preferred as it suggests that the company is efficient in managing its accounts receivable and collecting payments. However, it is important to consider industry benchmarks and historical trends when analyzing this ratio to gain a more accurate understanding of the company's performance.
Overall, the trend in Ingevity Corp's receivables turnover ratio indicates that the company has been effective in managing its accounts receivable over the past eight quarters, with some fluctuations in the efficiency of its collections process.
Peer comparison
Dec 31, 2023