UFP Technologies Inc (UFPT)

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	397,074	386,813	383,088	384,042	358,074	323,180	277,782	228,683	206,351	195,161	187,703	179,327	179,009	184,116	190,075	198,959	197,791	198,228	196,447	193,872
Receivables	US$ in thousands	64,449	60,968	64,090	60,142	55,117	61,477	57,913	46,182	39,384	32,456	31,222	30,018	26,428	27,940	27,271	30,018	28,648	30,832	30,681	29,772
Receivables turnover		6.16	6.34	5.98	6.39	6.50	5.26	4.80	4.95	5.24	6.01	6.01	5.97	6.77	6.59	6.97	6.63	6.90	6.43	6.40	6.51

December 31, 2023 calculation

Receivables turnover = Revenue (ttm) ÷ Receivables
= $397,074K ÷ $64,449K
= 6.16

The receivables turnover for UFP Technologies Inc has fluctuated over the past twenty quarters, ranging from a low of 4.80 to a high of 6.97. The overall trend appears to show some variability, with periods of slight increase followed by slight decreases. During the most recent quarter, the receivables turnover stood at 6.16, indicating that the company collects its accounts receivable approximately 6.16 times within the year, reflecting a relatively healthy rate of collection efficiency. It is important to note that a higher receivables turnover ratio generally suggests that the company is efficiently managing its accounts receivable and converting them into cash quickly. On the other hand, a lower ratio could indicate potential issues with credit policies, collection efforts, or the quality of receivables. Further analysis and comparison with industry benchmarks may provide additional insights into UFP Technologies Inc's performance in managing its receivables effectively.