Performance Food Group Co (PFGC)
Receivables turnover
| Jun 30, 2023 | Jun 30, 2022 | Jun 30, 2021 | Jun 30, 2020 | Jun 30, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 57,036,700 | 50,708,000 | 30,246,500 | 24,969,400 | 19,678,100 |
| Receivables | US$ in thousands | 2,441,000 | 2,341,400 | 1,629,600 | 1,415,100 | 1,227,300 |
| Receivables turnover | 23.37 | 21.66 | 18.56 | 17.64 | 16.03 |
June 30, 2023 calculation
Receivables turnover = Revenue ÷ Receivables
= $57,036,700K ÷ $2,441,000K
= 23.37
Performance Food Group Co's receivables turnover has been steadily increasing over the past five years, indicating that the company is efficiently managing its accounts receivable. The ratio has improved from 16.03 in 2019 to 23.37 in 2023, showing a positive trend in collecting receivables.
A higher receivables turnover ratio suggests that Performance Food Group Co is collecting cash from its customers more frequently within a given period. This not only signifies effective credit management but also indicates that the company has more liquidity available for its operations.
The consistent improvement in the receivables turnover ratio reflects the company's ability to efficiently convert credit sales into cash, which is a positive indicator of financial health and operational efficiency. Overall, the upward trend in the receivables turnover ratio for Performance Food Group Co bodes well for its financial performance and cash flow management.
Peer comparison
Jun 30, 2023