Ryder System Inc (R)
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 | 11,783,000 | 11,848,000 | 11,959,000 | 12,109,000 | 12,011,000 | 11,523,090 | 10,947,140 | 10,295,380 | 9,663,000 | 9,275,750 | 8,967,280 | 8,480,320 | 8,420,010 | 8,483,720 | 8,557,070 | 8,906,780 | 8,925,800 | 8,909,410 | 8,845,160 | 8,690,070 |
| Receivables | US$ in thousands | 1,714,000 | 1,647,000 | 1,572,000 | 1,682,000 | 1,610,000 | 1,620,840 | 1,692,910 | 1,602,660 | 1,465,000 | 1,361,530 | 1,298,900 | 1,194,560 | 1,182,350 | 1,156,240 | 1,087,640 | 1,202,820 | 1,228,490 | 1,274,490 | 1,248,970 | 1,221,770 |
| Receivables turnover | 6.87 | 7.19 | 7.61 | 7.20 | 7.46 | 7.11 | 6.47 | 6.42 | 6.60 | 6.81 | 6.90 | 7.10 | 7.12 | 7.34 | 7.87 | 7.40 | 7.27 | 6.99 | 7.08 | 7.11 |
December 31, 2023 calculation
Receivables turnover = Revenue (ttm) ÷ Receivables
= $11,783,000K ÷ $1,714,000K
= 6.87
The receivables turnover ratio for Ryder System, Inc. has shown some fluctuations over the past eight quarters. The trend indicates that the company's ability to collect outstanding receivables has varied, with quarterly values ranging from 6.42 to 7.61.
In Q2 and Q4 of 2023, the receivables turnover ratio was relatively higher compared to the values in the previous quarters, showing improved efficiency in collecting outstanding receivables during those periods. Conversely, in Q1 and Q3 of 2023, the turnover ratio decreased slightly, indicating a slower collection of receivables during those periods.
Overall, the average receivables turnover ratio for Ryder System, Inc. over the past eight quarters is approximately 7.16, suggesting that, on average, the company collects its accounts receivable about 7.16 times per year. Analysts may want to further investigate the reasons behind the fluctuations in the receivables turnover ratio to assess the effectiveness of the company's credit and collection policies.
Peer comparison
Dec 31, 2023