Ultra Clean Holdings Inc (UCTT)

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	1,734,500	1,856,200	2,056,200	2,243,400	2,374,200	2,422,900	2,341,600	2,248,100	2,101,600	1,856,100	1,665,700	1,495,300	1,398,600	1,315,400	1,206,400	1,127,000	1,066,200	1,037,200	1,017,000	1,041,800
Receivables	US$ in thousands	180,800	170,500	178,600	190,300	253,700	236,000	—	—	250,100	232,500	210,400	168,000	145,500	145,500	138,900	113,200	112,700	110,388	—	110,971
Receivables turnover		9.59	10.89	11.51	11.79	9.36	10.27	—	—	8.40	7.98	7.92	8.90	9.61	9.04	8.69	9.96	9.46	9.40	—	9.39

December 31, 2023 calculation

Receivables turnover = Revenue (ttm) ÷ Receivables
= $1,734,500K ÷ $180,800K
= 9.59

The receivables turnover ratio measures how efficiently a company is able to collect payments from its customers. A higher receivables turnover ratio indicates that the company is collecting payments more quickly, which is generally a positive sign.

Looking at the receivables turnover data for Ultra Clean Holdings Inc over the past few quarters, we can see that there has been some variability. The ratio has fluctuated between a low of 7.92 to a high of 11.79. In general, the trend has been upward, with the ratio showing an increase in recent quarters.

For the most recent quarter, the receivables turnover ratio was 9.59, which indicates that Ultra Clean Holdings Inc was able to collect payments from its customers 9.59 times during the year. This suggests that the company is managing its accounts receivable efficiently.

Overall, a consistent and relatively high receivables turnover ratio is a positive indicator of a company's financial health, as it shows that the company is effectively managing its credit and collection policies. However, it is important to monitor this ratio over time to ensure that the trend remains stable and does not indicate any issues with collecting payments from customers.