RadNet Inc (RDNT)
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 | 1,616,630 | 1,580,123 | 1,528,199 | 1,478,859 | 1,430,062 | 1,379,335 | 1,361,981 | 1,341,524 | 1,315,076 | 1,289,862 | 1,248,948 | 1,105,596 | 1,071,841 | 1,064,746 | 1,065,662 | 1,164,193 | 1,154,178 | 1,110,549 | 1,060,005 | 1,015,303 |
| Receivables | US$ in thousands | 163,707 | 167,736 | 174,481 | 196,741 | 185,328 | 176,155 | 170,815 | 165,508 | 140,446 | 158,689 | 163,618 | 154,186 | 135,421 | 137,835 | 127,217 | 145,477 | 156,005 | 152,133 | 159,972 | 157,386 |
| Receivables turnover | 9.88 | 9.42 | 8.76 | 7.52 | 7.72 | 7.83 | 7.97 | 8.11 | 9.36 | 8.13 | 7.63 | 7.17 | 7.91 | 7.72 | 8.38 | 8.00 | 7.40 | 7.30 | 6.63 | 6.45 |
December 31, 2023 calculation
Receivables turnover = Revenue (ttm) ÷ Receivables
= $1,616,630K ÷ $163,707K
= 9.88
The receivables turnover ratio of Radnet Inc has been fluctuating over the past eight quarters. The trend indicates that the company takes approximately 7.7 to 8.5 times to collect its accounts receivable during a year. In Q4 2023, the receivables turnover ratio was 8.55, which represents an improvement compared to the previous quarter (Q3 2023). This suggests that Radnet is collecting its receivables more efficiently in the most recent quarter.
Looking at the overall pattern, the company's receivables turnover ratio has shown some variability but generally hovers around the 7.5 to 8.5 range over the past eight quarters. It is essential for the company to closely monitor this ratio to ensure efficient management of accounts receivable and timely collection of outstanding payments. Further analysis of the drivers behind these changes in the receivables turnover ratio could provide insight into the effectiveness of Radnet's credit policies and collection practices.
Peer comparison
Dec 31, 2023