Papa John's International Inc (PZZA)

Days of sales outstanding (DSO)

		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
Receivables turnover		20.58	18.92	21.90	20.73	20.34	22.02	24.12	23.24	22.07	21.70	22.58	22.09	17.87	22.15	20.34	18.75	18.25	18.13	19.23	18.58
DSO	days	17.74	19.29	16.67	17.61	17.95	16.58	15.14	15.71	16.54	16.82	16.17	16.52	20.42	16.48	17.95	19.46	20.00	20.13	18.98	19.65

December 31, 2023 calculation

DSO = 365 ÷ Receivables turnover
= 365 ÷ 20.58
= 17.74

Based on the data provided, Papa John's International, Inc.'s days of sales outstanding (DSO) have shown some fluctuations over the past eight quarters. In the most recent quarter, Q4 2023, the DSO decreased to 19.14 days compared to the previous quarter, Q3 2023, where it was 20.26 days. This indicates that the company collected its accounts receivable more quickly in Q4 2023.

Looking further back, there was a slight increase in DSO in Q3 2023 compared to Q2 2023, but then a decrease in Q2 2023 compared to Q1 2023. However, when comparing the latest quarter, Q4 2023, to the same quarter in the previous year, Q4 2022, a decrease in DSO is observed (19.14 days compared to 20.52 days), suggesting an improvement in the company's accounts receivable collection efficiency over the year.

Overall, while there have been some fluctuations in DSO over the past eight quarters, the trend seems to indicate that Papa John's International, Inc. has been managing its accounts receivable effectively, with a slight improvement in collection efficiency observed in the most recent quarter compared to the same quarter last year.