O-I Glass Inc (OI)
Receivables turnover
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 6,531,000 | 7,105,000 | 6,615,000 | 6,138,000 | 6,097,000 |
| Receivables | US$ in thousands | 572,000 | 671,000 | 760,000 | 692,000 | 623,000 |
| Receivables turnover | 11.42 | 10.59 | 8.70 | 8.87 | 9.79 |
December 31, 2024 calculation
Receivables turnover = Revenue ÷ Receivables
= $6,531,000K ÷ $572,000K
= 11.42
The receivables turnover ratio for O-I Glass Inc has shown a fluctuating trend over the past five years. In December 2020, the ratio stood at 9.79, indicating that the company collected its accounts receivable approximately 9.79 times during that year. By December 2021, the ratio decreased to 8.87, suggesting a longer time taken to collect receivables. The trend continued with a minor decrease to 8.70 by December 2022.
However, in December 2023, there was a notable improvement in the receivables turnover ratio, which increased to 10.59, indicating a more efficient collection of accounts receivable. Subsequently, by December 2024, the ratio further improved to 11.42, signaling that the company managed to collect its receivables even more frequently in that year.
Overall, the improvements in the receivables turnover ratio in the later years suggest that O-I Glass Inc has been able to enhance its collection efficiency and manage its accounts receivable more effectively over time.