Papa John's International Inc (PZZA)

Receivables turnover

		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
Revenue (ttm)	US$ in thousands	2,144,971	2,075,826	2,064,226	2,072,661	2,085,404	2,110,754	2,110,024	2,099,367	2,068,421	2,009,347	1,969,506	1,915,121	1,813,234	1,760,937	1,691,702	1,630,702	1,619,248	1,599,300	1,580,825	1,611,154
Receivables	US$ in thousands	104,244	109,697	94,255	99,997	102,533	95,855	87,495	90,337	93,722	92,609	87,237	86,695	101,453	79,512	83,181	86,950	88,711	88,207	82,201	86,731
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

December 31, 2023 calculation

Receivables turnover = Revenue (ttm) ÷ Receivables
= $2,144,971K ÷ $104,244K
= 20.58

The receivables turnover ratio for Papa John`s International, Inc. has displayed fluctuations over the last eight quarters. In Q2 2022, the turnover ratio reached its peak at 21.10, indicating that the company collected its accounts receivable 21.10 times during that quarter. This was followed by a slight decrease in Q3 2022 to 18.47 before bouncing back up to 17.79 in Q4 2022.

Throughout 2023, the receivables turnover has continued to fluctuate, with values ranging from 18.02 in Q3 to 20.54 in Q2. Notably, the turnover ratio increased in Q2 2023, which may suggest more efficient collections on accounts receivable during that period. This was later followed by a decrease in Q4 2023 to 19.07.

Overall, the trend in the receivables turnover ratio for Papa John`s International, Inc. indicates variability in how effectively the company is managing its accounts receivable collection process over the quarters analyzed. It is important for the company to monitor this ratio consistently to ensure efficient cash flow management and timely collection of outstanding receivables.