RBC Bearings Incorporated (RBC)
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 | 1,560,300 | 1,541,028 | 1,518,728 | 1,502,328 | 1,469,328 | 1,433,742 | 1,349,095 | 1,140,795 | 942,900 | 744,369 | 623,277 | 608,712 | 609,000 | 636,018 | 666,710 | 701,811 | 754,839 | 755,013 | 748,716 | 738,750 |
| Receivables | US$ in thousands | 255,200 | 229,800 | 244,600 | 251,800 | 239,600 | 214,536 | — | — | 247,487 | — | — | — | 110,472 | 106,506 | 108,078 | 113,184 | 128,995 | 121,847 | 129,618 | 130,088 |
| Receivables turnover | 6.11 | 6.71 | 6.21 | 5.97 | 6.13 | 6.68 | — | — | 3.81 | — | — | — | 5.51 | 5.97 | 6.17 | 6.20 | 5.85 | 6.20 | 5.78 | 5.68 |
March 31, 2024 calculation
Receivables turnover = Revenue (ttm) ÷ Receivables
= $1,560,300K ÷ $255,200K
= 6.11
The receivables turnover ratio for RBC Bearings Incorporated has fluctuated over the past several quarters. The ratio indicates how many times during a period the company collects its average accounts receivable balance.
From December 2019 to March 2020, the receivables turnover ratio remained relatively stable, ranging from 5.78 to 6.20. This suggests that during this period, RBC Bearings effectively collected its receivables approximately 5.78 to 6.20 times per year.
However, there was a notable decrease in receivables turnover in the first quarter of 2021, dropping to 3.81. This signifies a potential issue with the collection of receivables during that period.
Subsequently, there was a recovery in the following quarters, with the ratio picking up to 5.51 in December 2021 and gradually increasing to 6.71 by the end of 2023. This recovery indicates an improvement in the company's ability to collect its outstanding receivables efficiently.
Overall, the trend in receivables turnover for RBC Bearings has been positive in recent quarters, showing an increasing efficiency in converting accounts receivable into cash. However, it is also essential for the company to monitor and manage its receivables effectively to ensure consistent and timely collection in the future.
Peer comparison
Mar 31, 2024