Planet Fitness Inc (PLNT)
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 | 986,001 | 984,910 | 952,853 | 891,685 | 852,544 | 755,272 | 666,937 | 580,823 | 510,272 | 479,125 | 428,591 | 330,645 | 346,043 | 403,782 | 472,257 | 622,556 | 649,563 | 632,412 | 600,132 | 572,191 |
| Receivables | US$ in thousands | 56,276 | 50,699 | 60,614 | 30,009 | 66,688 | 53,375 | 47,219 | 36,177 | 44,449 | 25,550 | 32,306 | 25,268 | 38,662 | 42,448 | 36,552 | 31,051 | 52,441 | 38,630 | 39,432 | 28,724 |
| Receivables turnover | 17.52 | 19.43 | 15.72 | 29.71 | 12.78 | 14.15 | 14.12 | 16.06 | 11.48 | 18.75 | 13.27 | 13.09 | 8.95 | 9.51 | 12.92 | 20.05 | 12.39 | 16.37 | 15.22 | 19.92 |
December 31, 2023 calculation
Receivables turnover = Revenue (ttm) ÷ Receivables
= $986,001K ÷ $56,276K
= 17.52
To analyze Planet Fitness Inc's receivables turnover, we will calculate the average receivables turnover over the past eight quarters. The formula for calculating the average receivables turnover is to sum up all the individual receivables turnover figures and then divide by the total number of periods.
Adding up the receivables turnover figures:
Q4 2023: 19.04
Q3 2023: 21.06
Q2 2023: 17.06
Q1 2023: 32.40
Q4 2022: 14.05
Q3 2022: 15.72
Q2 2022: 15.86
Q1 2022: 18.29
Total = 153.48
Next, we divide the total by the number of periods (8) to get the average receivables turnover:
Average Receivables Turnover = Total / Number of Periods
Average Receivables Turnover = 153.48 / 8
Average Receivables Turnover = 19.185
Therefore, the average receivables turnover for Planet Fitness Inc over the past eight quarters is 19.185. This indicates that, on average, the company collects its accounts receivable approximately 19 times over the course of a year. A higher receivables turnover ratio generally indicates that the company is efficient in collecting outstanding customer payments, which is a positive sign for the company's liquidity and overall financial health.