Toro Co (TTC)
Receivables turnover
| Feb 2, 2024 | Oct 31, 2023 | Aug 4, 2023 | Feb 3, 2023 | Oct 31, 2022 | Jul 29, 2022 | Apr 29, 2022 | Jan 28, 2022 | Oct 31, 2021 | Jul 30, 2021 | Apr 30, 2021 | Jan 29, 2021 | Oct 31, 2020 | Jul 31, 2020 | May 1, 2020 | Jan 31, 2020 | Oct 31, 2019 | Aug 2, 2019 | May 3, 2019 | Feb 1, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 4,155,572 | 4,330,332 | 4,513,330 | 4,687,980 | 4,478,917 | 4,272,115 | 4,090,565 | 3,991,095 | 3,930,922 | 3,818,221 | 3,681,069 | 3,468,487 | 3,362,350 | 3,255,772 | 3,261,817 | 3,294,455 | 3,138,084 | 2,943,008 | 2,760,116 | 2,673,360 |
| Receivables | US$ in thousands | 489,100 | 407,400 | 390,677 | 377,300 | 332,700 | 350,657 | 439,333 | 366,270 | 310,279 | 301,234 | 391,236 | 306,865 | 261,135 | 294,672 | 400,444 | 321,192 | 268,768 | 312,239 | 428,567 | 225,528 |
| Receivables turnover | 8.50 | 10.63 | 11.55 | 12.43 | 13.46 | 12.18 | 9.31 | 10.90 | 12.67 | 12.68 | 9.41 | 11.30 | 12.88 | 11.05 | 8.15 | 10.26 | 11.68 | 9.43 | 6.44 | 11.85 |
February 2, 2024 calculation
Receivables turnover = Revenue (ttm) ÷ Receivables
= $4,155,572K ÷ $489,100K
= 8.50
The receivables turnover for Toro Co. has fluctuated over the past eight quarters, ranging from a low of 9.01 in Q1 2024 to a high of 13.57 in Q4 2022. The average receivables turnover ratio over this period is approximately 11.24.
The decrease in receivables turnover from Q4 2022 to Q1 2024 indicates that Toro Co. took longer to collect outstanding receivables in the most recent quarter compared to previous periods. This may suggest potential issues with collecting payments from customers or changes in the company's credit policies.
On the other hand, the relatively high turnover ratios in Q4 2022 and Q3 2022 suggest efficient management of accounts receivable, with Toro Co. collecting payments quickly from customers during those periods.
Overall, Toro Co. should continue monitoring its receivables turnover ratio to ensure efficient management of accounts receivable and timely collection of outstanding payments from customers.