Novanta Inc (NOVT)
Receivables turnover
| Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 949,660 | 920,609 | 897,471 | 891,340 | 879,785 | 884,432 | 888,334 | 874,295 | 859,523 | 842,387 | 795,095 | 747,026 | 705,060 | 652,770 | 617,780 | 594,757 | 588,129 | 599,132 | 610,790 | 621,523 |
| Receivables | US$ in thousands | 151,026 | 164,502 | 145,025 | 150,911 | 139,410 | 143,086 | 144,837 | 141,472 | 137,697 | 144,633 | — | — | 115,617 | — | — | — | 75,054 | — | — | — |
| Receivables turnover | 6.29 | 5.60 | 6.19 | 5.91 | 6.31 | 6.18 | 6.13 | 6.18 | 6.24 | 5.82 | — | — | 6.10 | — | — | — | 7.84 | — | — | — |
December 31, 2024 calculation
Receivables turnover = Revenue (ttm) ÷ Receivables
= $949,660K ÷ $151,026K
= 6.29
Novanta Inc's receivables turnover ratio has shown some fluctuations over the past few years. The company had no data available for March and June 2020, indicating a lack of information for those periods.
For December 2020, the receivables turnover ratio was 7.84, suggesting that Novanta was able to collect its accounts receivable nearly 8 times during that period.
Subsequently, the ratio dropped to 6.10 by December 2021, indicating a decrease in the frequency of receivables turnover. However, there was an increase to 6.24 by December 2022, suggesting a slight improvement in the collection efficiency.
The ratio remained relatively stable around the range of 6.10 to 6.31 from March 2023 to December 2023, indicating consistent collections. In March 2024, the ratio dropped to 5.91, but then increased to 6.19 by June 2024 before falling to 5.60 by September 2024.
By December 2024, the receivables turnover ratio improved to 6.29, suggesting a better collection efficiency compared to the preceding quarter. Overall, the trend in Novanta Inc's receivables turnover ratio shows fluctuations in collection efficiency over the years, with some periods of improvement and others of slight decline.
Peer comparison
Dec 31, 2024