Standex International Corporation (SXI)
Receivables turnover
| Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 790,107 | 748,252 | 717,739 | 706,325 | 720,635 | 728,768 | 735,833 | 745,222 | 741,048 | 737,460 | 742,409 | 740,329 | 735,339 | 727,035 | 709,970 | 680,544 | 656,220 | 619,171 | 602,429 | 636,731 |
| Receivables | US$ in thousands | 172,702 | 228,288 | 208,771 | 168,784 | 166,758 | 120,501 | 125,575 | 127,164 | 155,409 | 121,161 | 119,907 | 113,556 | 117,075 | 115,428 | 107,107 | 105,435 | 109,883 | 107,960 | 100,585 | 103,031 |
| Receivables turnover | 4.57 | 3.28 | 3.44 | 4.18 | 4.32 | 6.05 | 5.86 | 5.86 | 4.77 | 6.09 | 6.19 | 6.52 | 6.28 | 6.30 | 6.63 | 6.45 | 5.97 | 5.74 | 5.99 | 6.18 |
June 30, 2025 calculation
Receivables turnover = Revenue (ttm) ÷ Receivables
= $790,107K ÷ $172,702K
= 4.57
The receivables turnover ratio for Standex International Corporation exhibits variability over the analyzed period from September 30, 2020, to June 30, 2025. Initially, in September 2020, the ratio stood at 6.18, indicating that the company was collecting its receivables approximately six times annually. During the subsequent quarters in 2020 and 2021, the ratio displayed relative stability with minor fluctuations around the 6.0 to 6.6 range, reaching a peak of 6.63 in December 2021. This suggests a consistent receivables collection period of roughly 55 to 60 days.
However, starting from late 2021, a downward trend became evident. By March 2022, the ratio decreased marginally to 6.30, followed by a slight decline to 6.28 in June 2022. The ratio increased modestly again in September 2022, reaching 6.52, but then declined to 6.19 in December 2022 and further to 6.09 in March 2023, indicating a slight lengthening in the collection period.
The most notable sharp decline occurred after March 2023, with the ratio falling to 4.77 in June 2023, implying that receivables are being collected less frequently—approximately every 63 days. This downward trajectory continued into late 2023 and early 2024, reaching a low of 3.28 in March 2025. Such a low ratio corresponds to a receivables collection period approaching 111 days, signaling a significant slowdown in the company’s receivables turnover.
By June 2025, the ratio shows a partial recovery to 4.57, though still significantly below earlier levels, suggesting ongoing challenges in the efficiency of receivables collection.
Overall, the data indicates that while Standex International Corporation maintained a relatively stable collection cycle in the initial years, there has been a pronounced deterioration in receivables turnover commencing around late 2022. This trend reflects either a lengthening of the receivables collection period or changes in credit policies, customer payment behaviors, or operational efficiencies. The extended collection periods in the recent years warrant further analysis to understand underlying factors impacting the receivables management.
Peer comparison
Jun 30, 2025