Snap-On Inc (SNA)
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 | 5,108,300 | 5,058,700 | 4,994,300 | 4,932,600 | 4,842,500 | 4,793,500 | 4,728,700 | 4,674,000 | 4,601,700 | 4,574,300 | 4,476,700 | 4,117,300 | 3,942,200 | 3,813,500 | 3,772,000 | 3,998,500 | 4,067,700 | 4,063,800 | 4,058,000 | 4,059,200 |
| Receivables | US$ in thousands | 1,506,200 | 1,493,900 | 1,487,000 | -31,200 | 1,433,800 | -28,800 | -28,100 | -28,400 | 1,335,000 | -31,500 | -29,500 | -25,800 | 1,283,400 | 1,264,300 | 1,169,700 | 1,241,700 | 1,325,400 | 1,218,300 | 1,213,100 | 1,201,200 |
| Receivables turnover | 3.39 | 3.39 | 3.36 | — | 3.38 | — | — | — | 3.45 | — | — | — | 3.07 | 3.02 | 3.22 | 3.22 | 3.07 | 3.34 | 3.35 | 3.38 |
December 31, 2023 calculation
Receivables turnover = Revenue (ttm) ÷ Receivables
= $5,108,300K ÷ $1,506,200K
= 3.39
The receivables turnover ratio for Snap-On Inc has been relatively stable over the past few quarters, ranging between 3.02 to 3.45. This indicates that on average, Snap-On Inc collects its accounts receivable approximately 3 times per year. A consistent receivables turnover ratio suggests that the company has efficient credit and collection policies in place, allowing it to swiftly convert credit sales into cash.
However, the absence of data for some quarters, such as in the most recent quarter (Mar 31, 2023), makes it challenging to draw a complete trend analysis. It would be beneficial to monitor future quarters to assess if the receivables turnover ratio continues to exhibit stability, indicating effective management of accounts receivable.
Peer comparison
Dec 31, 2023