Pitney Bowes Inc (PBI)
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 | 3,266,348 | 3,303,461 | 3,350,624 | 3,445,638 | 3,538,042 | 3,613,063 | 3,657,598 | 3,685,306 | 3,673,561 | 3,718,269 | 3,734,718 | 3,673,007 | 3,554,078 | 3,357,001 | 3,255,228 | 3,206,309 | 3,205,125 | 3,231,196 | 3,201,352 | 3,186,317 |
| Receivables | US$ in thousands | 906,336 | 845,136 | 844,101 | 842,162 | 917,319 | 866,669 | 842,168 | 875,326 | 909,204 | 903,040 | 899,419 | 923,104 | 980,509 | 979,190 | 1,009,840 | 1,027,980 | 1,099,680 | 1,110,300 | 1,226,080 | 1,118,990 |
| Receivables turnover | 3.60 | 3.91 | 3.97 | 4.09 | 3.86 | 4.17 | 4.34 | 4.21 | 4.04 | 4.12 | 4.15 | 3.98 | 3.62 | 3.43 | 3.22 | 3.12 | 2.91 | 2.91 | 2.61 | 2.85 |
December 31, 2023 calculation
Receivables turnover = Revenue (ttm) ÷ Receivables
= $3,266,348K ÷ $906,336K
= 3.60
The receivables turnover ratio for Pitney Bowes, Inc. has shown a decreasing trend over the past four quarters. In Q4 2022, the company had a receivables turnover of 4.31, which decreased to 3.89 in Q1 2023, indicating a longer time taken to collect payments from customers. This trend continued with further decreases in Q2 2023 (4.02) and Q3 2023 (3.94).
However, there was a slight improvement in Q4 2023 with a receivables turnover of 3.61, although it still remained below the levels seen in the earlier quarters. Overall, the decreasing trend in receivables turnover suggests potential issues with the company's credit and collection policies, efficiency in collecting payments from customers, or changes in customer payment behavior that may impact cash flow and liquidity. Further analysis and investigation into these factors would be advisable to address the declining trend in the receivables turnover ratio for Pitney Bowes, Inc.