Saia Inc (SAIA)

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	2,877,988	2,783,224	2,737,815	2,788,663	2,789,396	2,750,341	2,640,762	2,466,465	2,289,386	2,149,757	2,010,987	1,856,791	1,819,754	1,786,337	1,772,393	1,818,283	1,780,974	1,744,659	1,701,913	1,666,971
Receivables	US$ in thousands	312,747	345,940	299,551	294,917	313,744	335,595	357,052	322,343	276,755	295,862	262,711	242,895	216,995	226,677	206,281	217,436	204,407	218,000	227,046	202,133
Receivables turnover		9.20	8.05	9.14	9.46	8.89	8.20	7.40	7.65	8.27	7.27	7.65	7.64	8.39	7.88	8.59	8.36	8.71	8.00	7.50	8.25

December 31, 2023 calculation

Receivables turnover = Revenue (ttm) ÷ Receivables
= $2,877,988K ÷ $312,747K
= 9.20

Saia Inc.'s receivables turnover has demonstrated a varying trend over the past eight quarters. The ratio started Q1 2022 at 7.65, increased to a peak of 9.26 in Q1 2023, and subsequently fluctuated around this level over the next three quarters. This indicates that the company efficiently collected its accounts receivable relative to its sales during the periods analyzed.

The average receivables turnover for the past eight quarters stands at 8.35, suggesting a relatively stable performance in managing accounts receivable turnover. A higher receivables turnover generally indicates that the company is collecting outstanding receivables more quickly, which can be a positive sign of effective credit management or strong customer payment practices. However, a consistently decreasing trend or an extremely high turnover ratio could raise concerns about the company's sales quality, credit policies, or issues with customer payment behavior.

It is essential for stakeholders to monitor receivables turnover over time to assess the effectiveness of Saia Inc.'s credit and collection policies and overall liquidity management.