Parsons Corp (PSN)

Receivables turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	US$ in thousands	5,418,280	4,176,290	3,641,260	3,902,880	3,930,490
Receivables	US$ in thousands	1,188,850	936,290	765,801	888,800	890,451
Receivables turnover		4.56	4.46	4.75	4.39	4.41

December 31, 2023 calculation

Receivables turnover = Revenue ÷ Receivables
= $5,418,280K ÷ $1,188,850K
= 4.56

Based on the data provided for Parsons Corp's receivables turnover ratio over the past five years, we can observe a relatively stable trend with some slight fluctuations. The receivables turnover ratio measures how efficiently a company is able to collect payments from its customers within a certain period.

The receivables turnover ratio for Parsons Corp ranged from 4.39 to 4.75 over the period from December 31, 2019, to December 31, 2023. A higher receivables turnover ratio is generally favorable as it indicates that the company is collecting payments from its customers more quickly.

Parsons Corp's receivables turnover appears to have improved slightly from 4.39 in 2019 to 4.56 in 2023, suggesting that the company may have become more efficient in collecting payments from its customers over the past five years. However, the fluctuations between 4.46 and 4.75 indicate some variability in the company's ability to manage its accounts receivable effectively.

Overall, Parsons Corp's receivables turnover ratio suggests that the company is able to efficiently collect payments from its customers, but further analysis and comparison with industry benchmarks may provide additional insights into the company's performance in managing its accounts receivable.