ODP Corp (ODP)
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 | 7,821,000 | 8,121,000 | 8,288,000 | 8,415,000 | 8,480,000 | 8,416,000 | 8,417,000 | 8,667,000 | 8,853,000 | 9,099,000 | 9,460,000 | 9,315,000 | 9,663,000 | 9,883,000 | 10,111,000 | 10,541,000 | 10,580,000 | 10,727,000 | 10,822,000 | 10,854,000 |
| Receivables | US$ in thousands | 487,000 | 542,000 | 516,000 | — | 536,000 | 591,000 | 566,000 | 572,000 | 495,000 | 482,000 | 681,000 | 687,000 | 631,000 | 661,000 | 679,000 | 850,000 | 1,418,000 | 1,744,000 | 901,000 | 944,000 |
| Receivables turnover | 16.06 | 14.98 | 16.06 | — | 15.82 | 14.24 | 14.87 | 15.15 | 17.88 | 18.88 | 13.89 | 13.56 | 15.31 | 14.95 | 14.89 | 12.40 | 7.46 | 6.15 | 12.01 | 11.50 |
December 31, 2023 calculation
Receivables turnover = Revenue (ttm) ÷ Receivables
= $7,821,000K ÷ $487,000K
= 16.06
ODP Corp's receivables turnover ratio has shown variability over the past years. The ratio indicates how efficiently the company is able to collect its accounts receivable during a specific period.
In the most recent quarter, ending December 31, 2023, the receivables turnover ratio was 16.06, showing an improvement compared to the previous quarter. This suggests that ODP Corp was able to convert its accounts receivable into cash more quickly during this period.
Looking at the trend over the past few years, the company's receivables turnover ratio has generally been on an upward trajectory since 2019, indicating better efficiency in collecting receivables. This can be seen through the consistent increase in the ratio from 2019 to 2023. However, there were minor fluctuations in some quarters, which may indicate seasonal factors or changes in the company's credit policies.
Overall, a higher receivables turnover ratio is generally favorable as it indicates that the company is efficient in collecting cash from its customers. ODP Corp's improving trend in receivables turnover suggests that the company has been managing its accounts receivable effectively, which can positively impact its cash flow and overall financial health.
Peer comparison
Dec 31, 2023