Ryder System Inc (R)
Receivables turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 11,783,000 | 12,011,000 | 9,663,000 | 8,420,000 | 8,925,800 |
| Receivables | US$ in thousands | 1,714,000 | 1,610,000 | 1,465,000 | 1,182,350 | 1,228,490 |
| Receivables turnover | 6.87 | 7.46 | 6.60 | 7.12 | 7.27 |
December 31, 2023 calculation
Receivables turnover = Revenue ÷ Receivables
= $11,783,000K ÷ $1,714,000K
= 6.87
Ryder System, Inc.'s receivables turnover has shown some fluctuations over the past five years, ranging from 6.60 to 7.46. The receivables turnover ratio indicates how efficiently a company collects on credit sales during a specific period. A higher receivables turnover ratio typically suggests that the company is collecting its accounts receivable more quickly.
In this case, we observe that the ratio decreased from 7.27 in 2019 to 6.60 in 2021 but then increased to 7.46 in 2022 before dropping slightly to 6.87 in 2023. These variations may reflect changes in the company's credit policies, customer payment behaviors, or overall economic conditions impacting the collection process.
Overall, while the receivables turnover of Ryder System, Inc. has shown some fluctuation, it remains at a moderate to high level, indicating that the company is relatively efficient in collecting payments from its customers. Further analysis and comparison with industry benchmarks could provide more insights into Ryder's receivables management performance.
Peer comparison
Dec 31, 2023