Ufp Industries Inc (UFPI)
Receivables turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 7,218,380 | 9,626,740 | 8,636,130 | 5,154,000 | 4,416,010 |
| Receivables | US$ in thousands | 578,826 | 650,730 | 742,611 | 476,340 | 377,299 |
| Receivables turnover | 12.47 | 14.79 | 11.63 | 10.82 | 11.70 |
December 31, 2023 calculation
Receivables turnover = Revenue ÷ Receivables
= $7,218,380K ÷ $578,826K
= 12.47
The receivables turnover for Ufp Industries Inc has fluctuated over the past five years. In 2023, the receivables turnover was 12.47 times, which indicates that the company collected its accounts receivables approximately 12.47 times during the year. This figure decreased from 14.79 in 2022 but remained relatively higher than 2021 (11.63) and 2020 (10.82). The trend suggests that Ufp Industries Inc is becoming more efficient in collecting its accounts receivables compared to previous years. However, it is essential to monitor this ratio closely to ensure effective management of accounts receivable and cash flow for the company.