Papa John's International Inc (PZZA)

Receivables turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	US$ in thousands	2,145,070	2,088,400	2,068,420	1,813,230	1,619,250
Receivables	US$ in thousands	104,244	102,533	93,722	101,453	88,711
Receivables turnover		20.58	20.37	22.07	17.87	18.25

December 31, 2023 calculation

Receivables turnover = Revenue ÷ Receivables
= $2,145,070K ÷ $104,244K
= 20.58

The receivables turnover ratio for Papa John`s International, Inc. has shown a fluctuating trend over the past five years. In 2023, the receivables turnover ratio increased to 19.07, indicating that the company collected its accounts receivable approximately 19 times during the year. This improvement compared to the prior year suggests that Papa John`s was more efficient in collecting payments from its customers.

Furthermore, the 2023 receivables turnover ratio of 19.07 is higher than the ratios observed in 2022 (17.79) and 2020 (17.65), indicating an enhanced efficiency in managing accounts receivable. However, it is slightly lower than the ratio in 2021 (20.06), which was the highest among the five years analyzed.

Overall, the trend in Papa John`s receivables turnover ratio shows fluctuations, but the company has generally been efficient in collecting payments from customers over the past five years. This may suggest effective credit policies and diligent accounts receivable management practices within the organization.