JM Smucker Company (SJM)
Receivables turnover
| Apr 30, 2025 | Jan 31, 2025 | Oct 31, 2024 | Jul 31, 2024 | Apr 30, 2024 | Jan 31, 2024 | Oct 31, 2023 | Jul 31, 2023 | Apr 30, 2023 | Jan 31, 2023 | Oct 31, 2022 | Jul 31, 2022 | Apr 30, 2022 | Jan 31, 2022 | Oct 31, 2021 | Jul 31, 2021 | Apr 30, 2021 | Jan 31, 2021 | Oct 31, 2020 | Jul 31, 2020 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 8,726,100 | 8,788,000 | 8,831,200 | 8,498,600 | 8,178,700 | 8,207,800 | 8,194,900 | 8,461,400 | 8,529,200 | 8,328,200 | 8,169,000 | 8,013,900 | 7,998,900 | 7,885,300 | 7,904,900 | 7,888,900 | 8,002,700 | 8,174,500 | 8,070,100 | 7,993,900 |
| Receivables | US$ in thousands | 619,000 | 654,300 | 804,600 | 734,900 | 736,500 | 789,600 | 587,900 | 592,400 | 597,600 | 533,900 | 609,500 | 605,000 | 524,700 | 563,200 | 659,100 | 566,000 | 533,700 | 604,900 | 577,000 | 497,600 |
| Receivables turnover | 14.10 | 13.43 | 10.98 | 11.56 | 11.10 | 10.39 | 13.94 | 14.28 | 14.27 | 15.60 | 13.40 | 13.25 | 15.24 | 14.00 | 11.99 | 13.94 | 14.99 | 13.51 | 13.99 | 16.06 |
April 30, 2025 calculation
Receivables turnover = Revenue (ttm) ÷ Receivables
= $8,726,100K ÷ $619,000K
= 14.10
The receivables turnover ratio for JM Smucker Company demonstrates fluctuations over the observed periods, reflecting shifts in the company's efficiency in collecting accounts receivable. Initially, the ratio was relatively high at 16.06 times as of July 31, 2020, indicating prompt collection practices. Throughout the subsequent periods, this ratio experienced variability, reaching a low of approximately 10.39 times as of January 31, 2024, which suggests a lengthening of the average collection period and possibly increased credit terms or delays in receivables collection.
Notably, there is some recovery in the ratio following the January 2024 trough, with values such as 11.10 times in April 2024 and 11.56 times in July 2024. The ratio then stabilized somewhat, ending with a value of 13.43 times as of January 31, 2025, indicating a potential improvement in receivables management.
Overall, the trend reflects periods of efficiency interspersed with delays, with the most recent data suggesting a moderate level of receivables turnover. The variation over time may point to changing credit policies, customer payment behaviors, or macroeconomic factors impacting collection cycles. The notable decline from the early high of 16.06 times to the recent lower levels warrants attention as it affects cash flow and liquidity considerations within the company's financial operations.