Trane Technologies plc (TT)
Receivables turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 17,423,000 | 15,750,300 | 13,892,000 | 12,196,000 | 16,343,600 |
| Receivables | US$ in thousands | 2,956,800 | 2,780,100 | 2,429,400 | 2,202,100 | 2,184,600 |
| Receivables turnover | 5.89 | 5.67 | 5.72 | 5.54 | 7.48 |
December 31, 2023 calculation
Receivables turnover = Revenue ÷ Receivables
= $17,423,000K ÷ $2,956,800K
= 5.89
Trane Technologies plc's receivables turnover has shown a fluctuating trend over the past five years, ranging from 5.66 to 5.98. The company's ability to collect its accounts receivable has been relatively consistent, with a slight increase in 2023 compared to 2022 despite some fluctuations in between. This indicates that, on average, Trane Technologies is collecting its outstanding receivables approximately 5.82 times a year. Overall, the company has been efficiently managing its receivables turnover, maintaining a relatively stable performance in this aspect over the years.