Bio-Techne Corp (TECH)
Receivables turnover
| Jun 30, 2024 | Jun 30, 2023 | Jun 30, 2022 | Jun 30, 2021 | Jun 30, 2020 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 1,159,360 | 1,137,170 | 1,094,290 | 917,080 | 1,458,180 |
| Receivables | US$ in thousands | 241,394 | 218,468 | 194,548 | 145,385 | 122,534 |
| Receivables turnover | 4.80 | 5.21 | 5.62 | 6.31 | 11.90 |
June 30, 2024 calculation
Receivables turnover = Revenue ÷ Receivables
= $1,159,360K ÷ $241,394K
= 4.80
The receivables turnover ratio for Bio-Techne Corp has been declining over the past five years, indicating a decreasing efficiency in collecting outstanding receivables. In particular, the ratio has decreased from 11.90 in June 2020 to 4.80 in June 2024.
A lower receivables turnover ratio may suggest potential issues with credit policies, collection procedures, or an increase in bad debts. It could also indicate slower sales turnover or changes in customer payment behavior.
It is essential for Bio-Techne Corp to assess the reasons behind the declining receivables turnover and take necessary actions to improve efficiency in collecting outstanding receivables, such as implementing stricter credit policies, improving collection procedures, or enhancing customer relationships.
Peer comparison
Jun 30, 2024