Qorvo Inc (QRVO)

Receivables turnover

		Mar 31, 2024	Mar 31, 2023	Mar 31, 2022	Mar 31, 2021	Mar 31, 2020
Revenue	US$ in thousands	3,769,510	3,569,400	4,645,710	4,015,310	3,239,140
Receivables	US$ in thousands	427,387	331,054	601,001	457,431	372,572
Receivables turnover		8.82	10.78	7.73	8.78	8.69

March 31, 2024 calculation

Receivables turnover = Revenue ÷ Receivables
= $3,769,510K ÷ $427,387K
= 8.82

Qorvo Inc's receivables turnover is a financial ratio that measures how efficiently the company is able to collect payments from its customers within a given period. The trend of Qorvo Inc's receivables turnover over the past five years shows some fluctuations.

In the most recent fiscal year ended March 31, 2024, Qorvo Inc had a receivables turnover of 8.82, indicating that the company collected its outstanding receivables approximately 8.82 times during the year. This figure decreased compared to the previous year's value of 10.78 in fiscal year 2023, suggesting a potential slowdown in the collection of payments from customers.

Looking back further, in fiscal year 2022, the receivables turnover was 7.73, showing an improvement from the previous year but still below the levels seen in the most recent years. In fiscal year 2021, the ratio stood at 8.78, which was slightly higher than the current year's value, indicating a more efficient collection process during that period. Similarly, in fiscal year 2020, the receivables turnover was 8.69, indicating a relatively stable collection efficiency compared to the recent year.

Overall, the trend in Qorvo Inc's receivables turnover suggests some variability in the efficiency of its receivables collection process over the past five years. It is crucial for the company to monitor this ratio consistently to ensure timely collection of outstanding payments and optimal management of its accounts receivable.