Patrick Industries Inc (PATK)

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	3,467,453	3,638,773	3,884,790	4,439,795	4,886,925	5,082,490	5,030,580	4,574,840	4,076,324	3,701,457	3,341,984	2,746,079	2,484,874	2,261,721	2,127,200	2,316,373	2,335,411	2,317,162	2,326,115	2,317,776
Receivables	US$ in thousands	163,838	240,850	206,777	—	172,890	285,734	355,352	354,489	172,392	292,932	264,296	211,974	132,505	175,533	143,614	154,571	87,536	129,837	114,722	137,318
Receivables turnover		21.16	15.11	18.79	—	28.27	17.79	14.16	12.91	23.65	12.64	12.64	12.95	18.75	12.88	14.81	14.99	26.68	17.85	20.28	16.88

December 31, 2023 calculation

Receivables turnover = Revenue (ttm) ÷ Receivables
= $3,467,453K ÷ $163,838K
= 21.16

The receivables turnover for Patrick Industries, Inc. has varied over the past eight quarters, as evidenced by the figures provided in the table. The data shows that the company's receivables turnover ratio ranged from a low of 12.89 in Q1 2022 to a high of 26.35 in Q4 2022.

A higher receivables turnover ratio indicates that the company is collecting its accounts receivable more efficiently. Conversely, a lower ratio may suggest inefficiencies in collecting payments from customers or potential issues with credit management.

In the most recent quarter, Q4 2023, the receivables turnover ratio was 20.03, indicating that Patrick Industries improved its collection efficiency compared to the previous quarter. However, it is essential to monitor trends over time to assess the company's overall performance in managing its accounts receivable effectively.

Analyzing the receivables turnover ratio can provide insights into the company's liquidity, credit policies, and potential cash flow concerns. It is crucial for the management of Patrick Industries to continue monitoring and evaluating this ratio to ensure optimal management of its accounts receivable and overall financial health.