Planet Fitness Inc (PLNT)
Receivables turnover
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 1,180,040 | 984,750 | 853,868 | 510,324 | 326,538 |
| Receivables | US$ in thousands | 96,537 | 56,276 | 66,688 | 44,449 | 38,662 |
| Receivables turnover | 12.22 | 17.50 | 12.80 | 11.48 | 8.45 |
December 31, 2024 calculation
Receivables turnover = Revenue ÷ Receivables
= $1,180,040K ÷ $96,537K
= 12.22
The receivables turnover for Planet Fitness Inc has shown an increasing trend over the past five years. In 2020, the receivables turnover was 8.45, which improved to 11.48 in 2021, further increasing to 12.80 in 2022. Subsequently, there was a notable spike in the receivables turnover to 17.50 in 2023, indicating that the company is collecting its accounts receivable more efficiently. However, there was a slight decrease to 12.22 in 2024. Overall, the company's ability to convert its accounts receivable into cash has demonstrated positive momentum, with the notable peak in 2023 reflecting improved efficiency in the management of receivables.