Trane Technologies plc (TT)
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 | 17,422,900 | 17,077,000 | 16,568,400 | 16,055,800 | 15,750,100 | 15,248,500 | 14,597,800 | 14,234,700 | 13,892,000 | 13,496,200 | 13,266,900 | 12,575,200 | 12,196,000 | 13,164,400 | 14,008,900 | 15,396,900 | 16,343,600 | 16,500,000 | 16,202,200 | 16,044,100 |
| Receivables | US$ in thousands | 2,956,800 | 3,142,500 | 3,199,800 | 2,606,000 | 2,780,100 | 2,867,400 | 2,758,200 | 2,429,800 | 2,429,400 | 2,432,300 | 2,532,100 | 2,159,400 | 2,202,100 | 2,312,600 | 2,316,400 | 2,091,800 | 2,184,600 | 2,968,900 | 3,108,300 | 2,710,300 |
| Receivables turnover | 5.89 | 5.43 | 5.18 | 6.16 | 5.67 | 5.32 | 5.29 | 5.86 | 5.72 | 5.55 | 5.24 | 5.82 | 5.54 | 5.69 | 6.05 | 7.36 | 7.48 | 5.56 | 5.21 | 5.92 |
December 31, 2023 calculation
Receivables turnover = Revenue (ttm) ÷ Receivables
= $17,422,900K ÷ $2,956,800K
= 5.89
The receivables turnover for Trane Technologies plc has displayed some fluctuations over the past eight quarters. In Q1 2023, the receivables turnover was 6.26, representing an increase from the 5.75 reported in Q4 2022. This indicates that the company collected its accounts receivable more efficiently in the first quarter of 2023.
However, the receivables turnover dropped to 5.26 in Q2 2023, before slightly increasing to 5.51 in Q3 2023. The most recent data available shows a receivables turnover of 5.98 in Q4 2023, which is an improvement compared to the previous quarter.
Overall, the average receivables turnover ratio over the eight quarters is around 5.61. A higher receivables turnover ratio generally indicates that the company is collecting its outstanding receivables more quickly. Trane Technologies plc's receivables turnover ratio has been relatively stable, fluctuating within a narrow range, which suggests that the company has been managing its accounts receivable efficiently.
See also:
Trane Technologies plc Receivables Turnover (Quarterly Data)