Penumbra Inc (PEN)

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	1,058,522	995,059	937,791	884,636	847,133	829,928	806,367	782,281	747,590	710,477	671,436	592,287	560,412	538,777	527,203	556,295	547,405	522,935	495,239	470,676
Receivables	US$ in thousands	201,768	206,615	208,965	207,364	203,384	189,006	187,389	143,417	133,940	120,074	—	126,415	114,608	112,817	97,600	103,963	105,901	101,828	99,011	94,679
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

December 31, 2023 calculation

Receivables turnover = Revenue (ttm) ÷ Receivables
= $1,058,522K ÷ $201,768K
= 5.25

The receivables turnover ratio measures how efficiently a company is managing its accounts receivable by indicating the number of times a company collects its average accounts receivable balance during a specific period.

Based on the data provided for Penumbra Inc's receivables turnover ratio over the past eight quarters, we observe a fluctuating trend. The ratio has ranged from 4.17 to 5.45 during this period.

In Q4 2023, Penumbra Inc achieved a receivables turnover ratio of 5.25, which indicates that the company collected its accounts receivable balance approximately 5.25 times during this quarter. This represents an improvement compared to the previous quarter's ratio of 4.82.

The overall trend shows variability in the efficiency of accounts receivable management at Penumbra Inc. It is essential for the company to analyze the factors contributing to these fluctuations to maintain a stable and efficient collection process. Additionally, comparing the company's receivables turnover ratio to industry benchmarks can provide further insights into its performance in managing accounts receivable.