Scotts Miracle-Gro Company (SMG)
Receivables turnover
| Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 3,466,200 | 3,384,300 | 3,253,700 | 3,255,600 | 3,371,900 | 3,496,100 | 3,579,600 | 3,746,500 | 3,804,800 | 4,053,200 | 4,485,900 | 4,645,300 | 4,835,600 | 5,020,100 | 4,904,700 | 4,455,300 | 4,068,600 | 3,676,000 | 3,348,000 | 3,148,900 |
| Receivables | US$ in thousands | 176,800 | 504,600 | 876,900 | 287,600 | 304,200 | 717,700 | 1,035,700 | 311,400 | 299,000 | 674,700 | 990,100 | 310,800 | 483,400 | 1,058,000 | 1,230,300 | 346,600 | 474,800 | 970,100 | 994,700 | 192,700 |
| Receivables turnover | 19.61 | 6.71 | 3.71 | 11.32 | 11.08 | 4.87 | 3.46 | 12.03 | 12.73 | 6.01 | 4.53 | 14.95 | 10.00 | 4.74 | 3.99 | 12.85 | 8.57 | 3.79 | 3.37 | 16.34 |
September 30, 2024 calculation
Receivables turnover = Revenue (ttm) ÷ Receivables
= $3,466,200K ÷ $176,800K
= 19.61
The receivables turnover ratio for Scotts Miracle-Gro Company has shown fluctuations over the past few quarters. In the most recent quarter, ending September 30, 2024, the receivables turnover ratio was 19.61, indicating that the company collected its accounts receivable nearly 20 times during that period. This represents a significant improvement compared to the previous quarter, where the ratio was 6.71.
Looking at the trend over the past few quarters, we can see that the receivables turnover ratio has generally been increasing since the end of 2021. This suggests that Scotts Miracle-Gro has been more effective in collecting its receivables in a timely manner. However, there have been fluctuations in the ratio, with some quarters showing sharper increases or decreases.
Overall, a higher receivables turnover ratio is typically seen as favorable, as it indicates that the company is efficiently collecting payments from its customers. In contrast, a lower ratio may suggest that there are issues with collecting receivables promptly. Scotts Miracle-Gro's recent improvement in receivables turnover is a positive sign, indicating effective management of its accounts receivable.
Peer comparison
Sep 30, 2024