Progress Software Corporation (PRGS)

Receivables turnover

		Nov 30, 2024	Aug 31, 2024	May 31, 2024	Feb 29, 2024	Nov 30, 2023	Aug 31, 2023	May 31, 2023	Feb 28, 2023	Nov 30, 2022	Aug 31, 2022	May 31, 2022	Feb 28, 2022	Nov 30, 2021	Aug 31, 2021	May 31, 2021	Feb 28, 2021	Nov 30, 2020	Aug 31, 2020	May 31, 2020	Feb 29, 2020
Revenue (ttm)	US$ in thousands	753,409	715,418	711,724	714,898	694,439	674,596	650,821	621,317	602,013	585,014	581,214	554,955	531,313	513,570	475,852	453,747	442,150	436,803	433,820	433,432
Receivables	US$ in thousands	163,575	87,680	82,354	88,811	125,825	99,726	87,183	93,347	97,834	82,258	64,733	86,601	99,815	77,031	64,045	77,573	84,040	60,463	54,527	62,184
Receivables turnover		4.61	8.16	8.64	8.05	5.52	6.76	7.46	6.66	6.15	7.11	8.98	6.41	5.32	6.67	7.43	5.85	5.26	7.22	7.96	6.97

November 30, 2024 calculation

Receivables turnover = Revenue (ttm) ÷ Receivables
= $753,409K ÷ $163,575K
= 4.61

Progress Software Corporation's receivables turnover ratio has shown fluctuations over the period from February 29, 2020, to November 30, 2024. The ratio ranged from a low of 4.61 in November 30, 2024, to a high of 8.98 in May 31, 2022.

On average, the company collected its accounts receivable around 6 to 8 times over the period, which indicates a moderate efficiency in collecting outstanding payments from customers.

A declining trend in the receivables turnover ratio from the peak in May 31, 2022, to November 30, 2024, may suggest potential issues with the company's credit policies, collection efforts, or the quality of its receivables.

Overall, further analysis of Progress Software Corporation's receivables management practices and possibly comparing these trends with industry benchmarks could provide valuable insights into the efficiency of its accounts receivable management.