Penumbra Inc (PEN)

Days of sales outstanding (DSO)

		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
Receivables turnover		5.25	4.82	4.49	4.27	4.17	4.39	4.30	5.45	5.58	5.92	—	4.69	4.89	4.78	5.40	5.35	5.17	5.14	5.00	4.97
DSO	days	69.57	75.79	81.33	85.56	87.63	83.12	84.82	66.92	65.39	61.69	—	77.90	74.64	76.43	67.57	68.21	70.61	71.07	72.97	73.42

December 31, 2023 calculation

DSO = 365 ÷ Receivables turnover
= 365 ÷ 5.25
= 69.57

The days of sales outstanding (DSO) ratio for Penumbra Inc has fluctuated over the past eight quarters. In Q4 2023, the DSO was 69.57 days, showing a decrease from the previous quarter. This implies that the company took fewer days to collect its accounts receivable in Q4 2023 compared to Q3 2023.

Overall, the trend has been somewhat inconsistent, with DSO increasing in the earlier quarters of 2023 before declining in Q4 2023. It is worth noting that a lower DSO indicates that the company is collecting payments from customers more quickly, which can be positive for cash flow and liquidity. However, it is essential to monitor DSO over time to ensure efficient working capital management and timely collection of receivables.