Sun Country Airlines Holdings Inc (SNCY)
Receivables turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | ||
|---|---|---|---|---|
| Revenue | US$ in thousands | 1,007,750 | 861,869 | 596,689 |
| Receivables | US$ in thousands | 38,166 | 35,124 | 30,156 |
| Receivables turnover | 26.40 | 24.54 | 19.79 |
December 31, 2023 calculation
Receivables turnover = Revenue ÷ Receivables
= $1,007,750K ÷ $38,166K
= 26.40
The receivables turnover ratio of Sun Country Airlines Holdings Inc has shown a generally increasing trend over the past three years, from 20.66 in 2021 to 25.47 in 2022 and further to 27.50 in 2023. This indicates that the company is collecting its accounts receivables more efficiently each year.
A higher receivables turnover ratio reflects a quicker conversion of accounts receivables into cash, suggesting effective credit policies and efficient collection processes. Sun Country Airlines Holdings Inc's rising receivables turnover ratio suggests an improvement in its management of credit sales and timely collection of receivables, which can have positive implications for the company's liquidity and cash flow.
Peer comparison
Dec 31, 2023