Tootsie Roll Industries Inc (TR)
Receivables turnover
| 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 | Mar 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 766,225 | 759,321 | 723,875 | 708,415 | 688,173 | 666,465 | 637,169 | 608,787 | 571,396 | 406,735 | 380,224 | 345,350 | 345,389 | 345,244 | 369,369 | 394,892 | 392,371 | 518,821 | 518,400 | 518,257 |
| Receivables | US$ in thousands | 55,568 | 80,118 | 49,802 | 59,392 | 58,556 | 82,315 | 44,706 | 51,954 | 54,921 | 80,877 | 36,133 | 34,620 | 41,209 | 67,377 | 30,010 | 36,006 | 45,044 | 88,241 | 36,824 | 43,868 |
| Receivables turnover | 13.79 | 9.48 | 14.54 | 11.93 | 11.75 | 8.10 | 14.25 | 11.72 | 10.40 | 5.03 | 10.52 | 9.98 | 8.38 | 5.12 | 12.31 | 10.97 | 8.71 | 5.88 | 14.08 | 11.81 |
December 31, 2023 calculation
Receivables turnover = Revenue (ttm) ÷ Receivables
= $766,225K ÷ $55,568K
= 13.79
Tootsie Roll Industries, Inc.'s receivables turnover ratio has shown some fluctuations in recent quarters. The ratio indicates how efficiently the company is collecting payments from its customers. A higher receivables turnover ratio is generally preferred as it signifies that the company is collecting its accounts receivable more quickly.
In Q4 2023, the receivables turnover ratio was 11.89, which indicates that the company collected its accounts receivable approximately 11.89 times during that period. This is an improvement compared to the previous quarter, Q3 2023, where the ratio was 8.89.
Looking at the trend over the past few quarters, there have been some variations in the receivables turnover ratio. It peaked in Q2 2022 at 12.98, signaling efficient collection of accounts receivable, but then dropped in Q3 2022 to 7.70 before gradually increasing again.
Overall, Tootsie Roll Industries, Inc. should continue monitoring its receivables turnover ratio to ensure that it is efficiently managing its accounts receivable and collecting payments from customers in a timely manner.
Peer comparison
Dec 31, 2023