Unifirst Corporation (UNF)
Receivables turnover
| Aug 31, 2024 | Aug 26, 2023 | Aug 27, 2022 | Aug 28, 2021 | Aug 29, 2020 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 2,434,670 | 2,239,780 | 2,003,670 | 1,828,780 | 1,810,540 |
| Receivables | US$ in thousands | 278,851 | 279,078 | 249,198 | 208,331 | 190,916 |
| Receivables turnover | 8.73 | 8.03 | 8.04 | 8.78 | 9.48 |
August 31, 2024 calculation
Receivables turnover = Revenue ÷ Receivables
= $2,434,670K ÷ $278,851K
= 8.73
The receivables turnover ratio measures how efficiently a company is able to collect on its accounts receivable during a specific period. In the case of Unifirst Corporation, the receivables turnover ratios for the past five years have been fairly consistent, ranging from 8.03 to 9.48.
The higher the receivables turnover ratio, the more efficient the company is in converting its accounts receivable into cash. Unifirst Corporation's ratios have generally been in a healthy range, indicating that the company is effective in collecting payments from its customers.
While there has been some fluctuation in the ratio over the years, the overall trend suggests that Unifirst Corporation has maintained a relatively stable level of efficiency in managing its receivables. Further analysis in conjunction with other financial metrics would provide a more comprehensive assessment of the company's overall financial health.
Peer comparison
Aug 31, 2024