Seagate Technology PLC (STX)
Receivables turnover
| Jun 30, 2024 | Jun 30, 2023 | Jun 30, 2022 | Jun 30, 2021 | Jun 30, 2020 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 6,190,000 | 7,384,000 | 11,661,000 | 10,681,000 | 10,509,000 |
| Receivables | US$ in thousands | 539,000 | 788,000 | 1,532,000 | 1,158,000 | 1,115,000 |
| Receivables turnover | 11.48 | 9.37 | 7.61 | 9.22 | 9.43 |
June 30, 2024 calculation
Receivables turnover = Revenue ÷ Receivables
= $6,190,000K ÷ $539,000K
= 11.48
Seagate Technology PLC's receivables turnover has shown an increasing trend over the past five years. In the most recent fiscal year ending June 30, 2024, the company achieved a receivables turnover of 11.48 times, indicating that it collected its accounts receivable approximately 11.48 times during the year. This suggests an improvement in the efficiency of the company in collecting payments from customers compared to the previous years.
The significant increase in the receivables turnover from 2022 to 2024 indicates that Seagate has been more efficient in managing its accounts receivable and converting them into cash. A higher receivables turnover ratio generally signifies better liquidity and working capital management.
Overall, the upward trend in the receivables turnover ratio reflects positively on Seagate's ability to effectively manage its credit sales and collect payments from customers, potentially leading to improved cash flow and financial performance.
Peer comparison
Jun 30, 2024