RadNet Inc (RDNT)
Receivables turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 1,616,630 | 1,430,060 | 1,315,080 | 1,071,840 | 1,154,180 |
| Receivables | US$ in thousands | 163,707 | 185,328 | 140,446 | 135,421 | 156,005 |
| Receivables turnover | 9.88 | 7.72 | 9.36 | 7.91 | 7.40 |
December 31, 2023 calculation
Receivables turnover = Revenue ÷ Receivables
= $1,616,630K ÷ $163,707K
= 9.88
The receivables turnover ratio of Radnet Inc has shown fluctuations over the past five years. The ratio indicates how quickly the company is able to collect payments from its customers.
In 2023, Radnet Inc achieved a receivables turnover ratio of 8.55, which is an improvement compared to the previous year's ratio of 7.72 in 2022. This suggests that the company was able to collect receivables more efficiently in 2023.
Looking back at the trends over the past five years, the company's receivables turnover ratio has generally been in the range of 7 to 9, indicating that Radnet Inc has been effective in managing its accounts receivables.
It is essential for Radnet Inc to continue monitoring and improving its receivables turnover ratio to ensure timely collection of payments and maintain a healthy cash flow position.
Peer comparison
Dec 31, 2023