ODP Corp (ODP)
Receivables turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 7,812,000 | 8,477,000 | 8,439,000 | 9,660,000 | 10,561,000 |
| Receivables | US$ in thousands | 487,000 | 536,000 | 495,000 | 631,000 | 1,418,000 |
| Receivables turnover | 16.04 | 15.82 | 17.05 | 15.31 | 7.45 |
December 31, 2023 calculation
Receivables turnover = Revenue ÷ Receivables
= $7,812,000K ÷ $487,000K
= 16.04
The receivables turnover for ODP Corp has shown a fluctuating trend over the past five years. In 2019, the receivables turnover was 7.45, indicating that the company collected its accounts receivable approximately 7.45 times during the year. This ratio increased to 15.31 in 2020, reflecting a substantial improvement in the efficiency of the company's accounts receivable collection process.
In the subsequent years, the receivables turnover continued to be relatively stable, with values of 17.05 in 2021, 15.82 in 2022, and 16.04 in 2023. These values suggest that ODP Corp has maintained a strong level of efficiency in collecting its accounts receivable, with a consistent turnover rate over the years.
Overall, the receivables turnover ratio indicates how efficiently ODP Corp is managing its credit sales and collecting payments from customers. A higher turnover ratio generally indicates a more efficient accounts receivable management process, as the company is collecting payments more frequently throughout the year.
Peer comparison
Dec 31, 2023