Qorvo Inc (QRVO)

Receivables turnover

		Mar 31, 2024	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
Revenue (ttm)	US$ in thousands	3,769,502	3,461,217	3,130,638	3,185,208	3,569,404	4,102,861	4,473,540	4,570,730	4,645,720	4,552,290	4,533,160	4,338,200	4,015,301	3,730,343	3,504,586	3,250,994	3,239,141	3,132,251	3,095,508	3,173,253
Receivables	US$ in thousands	427,387	514,665	620,626	327,241	331,054	398,468	—	—	601,001	—	—	—	457,431	—	—	—	—	—	—	—
Receivables turnover		8.82	6.73	5.04	9.73	10.78	10.30	—	—	7.73	—	—	—	8.78	—	—	—	—	—	—	—

March 31, 2024 calculation

Receivables turnover = Revenue (ttm) ÷ Receivables
= $3,769,502K ÷ $427,387K
= 8.82

Based on the provided data, the receivables turnover for Qorvo Inc has shown fluctuations over the past quarters. The receivables turnover ratio indicates the efficiency with which the company is able to collect payments from its customers. A higher turnover ratio generally implies that the company is collecting its accounts receivable more quickly.

Looking at the trend in the receivables turnover ratio for Qorvo Inc:
- In March 2024, the ratio was 8.82, which indicates that the company collected its receivables 8.82 times during the period.
- In December 2023, the ratio decreased to 6.73, suggesting a decrease in the collection efficiency compared to the previous quarter.
- September 2023 saw a further decline in the ratio to 5.04, indicating a slower collection of receivables during that period.
- However, the ratio increased significantly to 9.73 in June 2023, showing a relatively efficient collection performance.
- In March 2023 and December 2022, the ratios were 10.78 and 10.30 respectively, indicating strong collection efficiency.
- In March 2021, the ratio was lower at 8.78, but still relatively healthy.

Overall, the trend in the receivables turnover ratio for Qorvo Inc has been somewhat volatile, with periods of both strong and weaker collection efficiency. It would be important to further analyze the reasons behind these fluctuations to understand the company's receivables management practices and the impact on its overall financial performance.