STERIS plc (STE)

Receivables turnover

		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	Sep 30, 2019	Jun 30, 2019
Revenue (ttm)	US$ in thousands	5,138,700	5,000,560	4,815,270	4,777,590	4,750,690	4,680,130	4,776,670	4,773,130	4,585,062	4,247,903	3,847,857	3,407,009	3,107,519	3,056,979	3,022,316	3,003,024	3,030,895	2,976,117
Receivables	US$ in thousands	1,008,320	964,022	940,331	887,756	928,315	822,758	780,113	763,788	799,041	752,132	762,003	743,420	609,406	556,117	503,724	503,172	586,481	544,405	513,353	509,655
Receivables turnover		5.10	5.19	5.12	5.38	5.12	5.69	6.12	6.25	5.74	5.65	5.05	4.58	5.10	5.50	6.00	5.97	5.17	5.47

March 31, 2024 calculation

Receivables turnover = Revenue (ttm) ÷ Receivables
= $5,138,700K ÷ $1,008,320K
= 5.10

The receivables turnover ratio for STERIS plc has shown some fluctuations over the past few quarters. The ratio has been relatively stable around the range of 5 to 6 times annually.

In the most recent quarter, the receivables turnover ratio stood at 5.10, slightly lower than the previous quarter's 5.19. This indicates that the company collected its accounts receivable approximately 5 times during the quarter, compared to 5.19 times in the previous period.

Looking at a longer time frame, the receivables turnover has generally been within a consistent range, reflecting a healthy rate of collection on accounts receivable. It is important to note that a higher turnover ratio is generally favorable as it indicates efficient management of accounts receivable and timely collection from customers.

Overall, the trend in STERIS plc's receivables turnover suggests that the company has been effective in managing its receivables and collecting outstanding payments from customers in a timely manner.