Phibro Animal Health Corporation (PAHC)

Receivables turnover

Jun 30, 2025 Mar 31, 2025 Dec 31, 2024 Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 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
Revenue (ttm) US$ in thousands 1,296,215 1,190,682 1,106,080 1,046,762 1,017,630 999,515 981,965 976,668 977,889 978,140 972,086 960,152 942,296 907,296 879,406 852,843 833,372 798,972 797,982 805,845
Receivables US$ in thousands 227,983 197,518 191,789 160,777 169,452 161,087 150,627 149,228 163,479 152,740 151,830 142,728 166,537 156,561 142,495 140,644 146,852 135,562 126,026 125,457
Receivables turnover 5.69 6.03 5.77 6.51 6.01 6.20 6.52 6.54 5.98 6.40 6.40 6.73 5.66 5.80 6.17 6.06 5.67 5.89 6.33 6.42

June 30, 2025 calculation

Receivables turnover = Revenue (ttm) ÷ Receivables
= $1,296,215K ÷ $227,983K
= 5.69

The receivables turnover ratio for Phibro Animal Health Corporation exhibits fluctuations over the examined period from September 2020 through June 2025. At the beginning of the period, the ratio stood at 6.42 times as of September 30, 2020. It experienced a gradual decline through early 2021, reaching a low of 5.67 times by June 30, 2021. During this period, slight recoveries and fluctuations are observed, with ratios of 6.06 in September 2021 and 6.17 in December 2021, indicating relatively efficient collection cycles.

From the beginning of 2022, the ratio continued to oscillate within a narrower range, decreasing to 5.80 in March 2022 and 5.66 in June 2022. Notably, a marked increase is observed in September 2022, where the ratio rises to 6.73, surpassing previous levels, which suggests an improvement in collecting receivables or a change in credit terms. This higher ratio is maintained through December 2022 and into the first quarter of 2023, with ratios of 6.40, indicating a relatively efficient collection process during this period.

Subsequent months show a slight decrease, with ratios declining to 5.98 in June 2023. A modest recovery is evident in the latter part of 2023, with ratios rising back to 6.54 in September 2023 and slightly stabilizing around 6.52 by December 2023. Early 2024 data indicates a dip to 6.20 in March but a gradual decline continues, reaching 6.01 in June 2024.

In the latest reporting periods, the ratio slightly recovers to 6.51 in September 2024 but then falls to 5.77 in December 2024. The subsequent quarters display minor fluctuations, with ratios of 6.03 in March 2025 and 5.69 in June 2025, reflecting overall stability but with some variability in receivables management.

Overall, the receivables turnover ratio demonstrates periodic fluctuations within a range approximately between 5.6 and 6.7 times. The variation indicates changes in the company's efficiency in collecting receivables over time, influenced by potential shifts in credit policies, customer payment behavior, or seasonal factors. Despite relative stability, the modest declines and recoveries suggest some operational adjustments or external influences affecting receivable collections during the period.