Packaging Corp of America (PKG)
Receivables turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 7,717,400 | 8,363,100 | 7,482,900 | 6,538,200 | 6,788,300 |
| Receivables | US$ in thousands | 1,037,500 | 1,067,500 | 1,078,400 | 837,500 | 872,100 |
| Receivables turnover | 7.44 | 7.83 | 6.94 | 7.81 | 7.78 |
December 31, 2023 calculation
Receivables turnover = Revenue ÷ Receivables
= $7,717,400K ÷ $1,037,500K
= 7.44
Packaging Corp Of America's receivables turnover ratio has exhibited some variability over the past five years. The ratio was highest in 2022 at 7.94 and lowest in 2021 at 7.17. In 2023, the receivables turnover ratio slightly decreased to 7.52. This decline may indicate a longer time taken to collect receivables in the most recent year compared to the prior year. Despite this slight dip, the company has generally maintained a stable level of efficiency in collection efforts over the period under review, with the ratio consistently hovering around 7.5 to 8 times per year. Overall, the receivables turnover ratio suggests that Packaging Corp Of America efficiently manages its accounts receivable and is effective in collecting outstanding payments from its customers.
Peer comparison
Dec 31, 2023