Perdoceo Education Corp (PRDO)

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	710,100	738,611	727,380	708,577	695,895	679,743	684,837	692,577	693,473	704,470	700,359	701,320	689,033	676,325	662,738	643,733	629,803	616,857	606,556	591,042
Receivables	US$ in thousands	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	55,018	29,913	27,870	29,840
Receivables turnover		—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	11.45	20.62	21.76	19.81

December 31, 2023 calculation

Receivables turnover = Revenue (ttm) ÷ Receivables
= $710,100K ÷ $—K
= —

Based on the data provided, we can observe fluctuations in Perdoceo Education Corporation's receivables turnover ratio over the past eight quarters. The receivables turnover ratio measures how efficiently the company is able to collect payments from its customers.

In Q4 2023, the receivables turnover ratio was 20.92, indicating that, on average, the company collected its accounts receivable nearly 21 times during the quarter. This represents a significant increase compared to the previous quarter where the ratio was 13.86.

The trend of the receivables turnover ratio has been generally inconsistent over the past eight quarters, with fluctuations between 13.86 and 20.92. However, the overall pattern shows that Perdoceo Education Corporation has been able to maintain relatively high levels of efficiency in collecting receivables, with ratios consistently above 13. This suggests that the company has been effectively managing its accounts receivable and converting them into cash.

It is important to note that a higher receivables turnover ratio generally indicates that the company is efficient in collecting payments from its customers, which is a positive sign of liquidity and operational efficiency. However, significant fluctuations in the ratio over time may warrant further investigation into the company's credit policies, customer base, and collection practices to ensure consistency and sustainability in receivables management.