Regeneron Pharmaceuticals Inc (REGN)

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	13,044,200	13,025,200	12,601,200	12,306,100	12,113,500	13,654,100	14,171,800	16,451,800	16,014,400	13,499,700	12,328,800	9,147,000	8,455,000	8,201,600	7,974,500	7,957,900	7,839,900	7,598,200	7,213,600	6,889,000
Receivables	US$ in thousands	5,667,300	5,584,500	5,121,300	5,118,600	5,328,700	5,548,300	5,161,400	4,839,000	6,036,500	5,452,000	6,998,600	4,173,000	3,111,500	3,553,300	2,380,200	2,531,400	2,360,600	2,373,100	2,172,200	2,016,000
Receivables turnover		2.30	2.33	2.46	2.40	2.27	2.46	2.75	3.40	2.65	2.48	1.76	2.19	2.72	2.31	3.35	3.14	3.32	3.20	3.32	3.42

December 31, 2023 calculation

Receivables turnover = Revenue (ttm) ÷ Receivables
= $13,044,200K ÷ $5,667,300K
= 2.30

Regeneron Pharmaceuticals, Inc.'s receivables turnover has fluctuated over the past eight quarters, ranging from a low of 2.28 in Q4 2022 to a high of 3.41 in Q1 2022. The average receivables turnover ratio over this period is approximately 2.64.

A lower receivables turnover ratio indicates that the company is taking longer to collect payments from its customers, which could be a potential concern regarding the company's liquidity and its ability to manage its receivables effectively. Conversely, a higher ratio suggests that Regeneron Pharmaceuticals is collecting payments more efficiently.

The declining trend in the receivables turnover ratio from Q1 2022 to Q4 2023 may raise questions about the company's credit policies, customer payment behaviors, or potential issues with accounts receivable management. It is important for analysts to further investigate the reasons behind these fluctuations to assess the overall effectiveness of Regeneron Pharmaceuticals' receivables management strategy.