Nextracker Inc. Class A Common Stock (NXT)

Receivables turnover

		Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022
Revenue (ttm)	US$ in thousands	2,499,841	2,281,721	2,084,665
Receivables	US$ in thousands	524,087	365,271	346,662	222,750	387,459	285,800
Receivables turnover		4.77	6.25	6.01

March 31, 2024 calculation

Receivables turnover = Revenue (ttm) ÷ Receivables
= $2,499,841K ÷ $524,087K
= 4.77

Nextracker Inc.'s receivables turnover has shown a declining trend over the past four quarters. The receivables turnover ratio decreased from 6.01 in September 2023 to 4.77 in March 2024. This indicates that the company took longer to collect its accounts receivable in the most recent period compared to the previous quarters. A lower receivables turnover could suggest potential issues with the company's credit policies, collection activities, or the creditworthiness of its customers. Further investigation into the reasons behind this trend and potential actions to improve the efficiency of accounts receivable collection may be warranted to ensure optimal working capital management and cash flow for Nextracker Inc.