Tesla Inc (TSLA)
Receivables turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 96,773,000 | 81,462,000 | 53,823,000 | 31,536,000 | 24,578,000 |
| Receivables | US$ in thousands | 3,508,000 | 2,959,000 | 1,924,000 | 1,895,000 | 1,324,000 |
| Receivables turnover | 27.59 | 27.53 | 27.97 | 16.64 | 18.56 |
December 31, 2023 calculation
Receivables turnover = Revenue ÷ Receivables
= $96,773,000K ÷ $3,508,000K
= 27.59
The receivables turnover ratio measures how efficiently a company is able to collect payments from its customers. A higher turnover ratio indicates that a company is collecting receivables more quickly.
Tesla Inc's receivables turnover ratio has shown a fluctuating trend over the past five years. In 2023, the ratio was 27.08, slightly higher than the previous year's 26.99. This suggests that Tesla improved its ability to collect payments from customers during this period.
Compared to 2020 and 2019, the receivables turnover ratio has increased significantly, indicating that Tesla has become more efficient in managing its accounts receivable. The substantial improvement from 16.72 in 2020 to 27.08 in 2023 demonstrates a notable enhancement in Tesla's receivables management.
Overall, Tesla Inc's receivables turnover has generally improved and remained at a high level over the years, which is a positive indicator of the company's ability to collect payments from its customers in a timely manner.
Peer comparison
Dec 31, 2023