TechTarget Inc (TTGT)
Receivables turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 246,651 | 298,349 | 240,152 | 148,059 | 133,266 |
| Receivables | US$ in thousands | 39,239 | 60,359 | 51,095 | 40,183 | 27,102 |
| Receivables turnover | 6.29 | 4.94 | 4.70 | 3.68 | 4.92 |
December 31, 2023 calculation
Receivables turnover = Revenue ÷ Receivables
= $246,651K ÷ $39,239K
= 6.29
Techtarget Inc.'s receivables turnover has shown a fluctuating trend over the past five years. In 2023, the receivables turnover ratio improved to 5.86 compared to 4.93 in 2022. This indicates that the company collected its accounts receivables more frequently in 2023, which may reflect efficient management of credit sales and collection efforts. The 2023 ratio also exceeded the 5-year average, suggesting an improvement in the company's ability to convert receivables into cash.
In 2021 and 2019, Techtarget Inc. also exhibited strong receivables turnover ratios of 5.16 and 4.94, respectively. However, the ratio dipped in 2020 to 3.69, indicating a potential lag in collecting accounts receivables during that period.
Overall, the increasing trend in the receivables turnover ratio over the past two years demonstrates an enhancement in the company's collection efficiency, which is a positive sign for its financial health.
Peer comparison
Dec 31, 2023