Proto Labs Inc (PRLB)
Receivables turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 499,414 | 489,514 | 487,522 | 434,393 | 458,728 |
| Receivables | US$ in thousands | 85,176 | 80,267 | 81,372 | 58,417 | 57,450 |
| Receivables turnover | 5.86 | 6.10 | 5.99 | 7.44 | 7.98 |
December 31, 2023 calculation
Receivables turnover = Revenue ÷ Receivables
= $499,414K ÷ $85,176K
= 5.86
Proto Labs Inc's receivables turnover ratio has fluctuated over the past five years.
- In 2019, the company had a high receivables turnover of 7.98, indicating that it collected its accounts receivable nearly 8 times during the year.
- This ratio decreased to 7.44 in 2020 and further declined to 6.00 in 2021 before increasing slightly to 6.08 in 2022.
- In 2023, the receivables turnover ratio improved to 6.71, suggesting that Proto Labs Inc was able to collect its receivables more efficiently compared to the previous year.
Overall, a higher receivables turnover ratio is generally preferred as it indicates that the company is able to collect its outstanding receivables more quickly, potentially improving cash flow and reducing the risk of bad debts. However, it is essential to analyze this ratio in conjunction with other financial metrics to gain a comprehensive understanding of Proto Labs Inc's overall financial health.
Peer comparison
Dec 31, 2023