Quanex Building Products (NX)
Receivables turnover
| Jan 31, 2024 | Oct 31, 2023 | Jul 31, 2023 | Apr 30, 2023 | Jan 31, 2023 | Oct 31, 2022 | Jul 31, 2022 | Apr 30, 2022 | Jan 31, 2022 | Oct 31, 2021 | Jul 31, 2021 | Apr 30, 2021 | Jan 31, 2021 | Oct 31, 2020 | Jul 31, 2020 | Apr 30, 2020 | Jan 31, 2020 | Oct 31, 2019 | Jul 31, 2019 | Apr 30, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 1,109,013 | 1,130,825 | 1,136,294 | 1,162,759 | 1,214,361 | 1,221,502 | 1,205,738 | 1,161,578 | 1,109,042 | 1,072,149 | 1,035,786 | 968,005 | 885,123 | 851,573 | 836,537 | 862,902 | 893,630 | 893,841 | 897,558 | 898,918 |
| Receivables | US$ in thousands | 80,063 | 195,182 | 96,204 | 94,038 | 84,672 | 191,869 | 109,467 | 118,195 | 99,355 | 216,034 | 98,286 | 96,521 | 82,538 | 176,574 | 84,479 | 66,892 | 64,036 | 165,691 | 82,302 | 80,646 |
| Receivables turnover | 13.85 | 5.79 | 11.81 | 12.36 | 14.34 | 6.37 | 11.01 | 9.83 | 11.16 | 4.96 | 10.54 | 10.03 | 10.72 | 4.82 | 9.90 | 12.90 | 13.96 | 5.39 | 10.91 | 11.15 |
January 31, 2024 calculation
Receivables turnover = Revenue (ttm) ÷ Receivables
= $1,109,013K ÷ $80,063K
= 13.85
The receivables turnover ratio for Quanex Building Products has varied over the past several quarters. The ratio measures how efficiently the company is collecting payments from its customers. A higher receivables turnover ratio indicates that the company is collecting payments more quickly, which is generally favorable.
Analyzing the trend, we note that there are fluctuations in the receivables turnover ratio over the periods in consideration. The latest ratio of 13.85 as of January 31, 2024, shows an improvement compared to the previous quarter's ratio of 5.79 as of October 31, 2023. This significant increase suggests that Quanex Building Products is collecting receivables at a much faster rate in the most recent period.
Looking further back, we see a pattern of fluctuation in the receivables turnover ratio, with peaks and troughs occurring throughout the periods. The highest ratio was observed on January 31, 2020 (13.96), while the lowest ratio was on October 31, 2020 (4.82).
Overall, it is essential for Quanex Building Products to closely monitor its receivables turnover ratio to ensure efficient collection of payments and maintain healthy cash flow. The recent improvement in the ratio is a positive sign, but consistent performance and efforts to manage receivables effectively will be crucial for the company's financial health.
Peer comparison
Jan 31, 2024