US Physicalrapy Inc (USPH)
Receivables turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 604,802 | 553,144 | 495,022 | 422,969 | 481,969 |
| Receivables | US$ in thousands | 51,866 | 51,934 | 47,772 | 41,906 | 46,228 |
| Receivables turnover | 11.66 | 10.65 | 10.36 | 10.09 | 10.43 |
December 31, 2023 calculation
Receivables turnover = Revenue ÷ Receivables
= $604,802K ÷ $51,866K
= 11.66
The receivables turnover ratio for U.S. Physical Therapy, Inc. has shown a consistent trend over the past five years. The company's receivables turnover ratio was 8.67 in 2023, showing a slight improvement from 8.06 in 2022 and continuing the upward trend seen since 2021.
A higher receivables turnover ratio indicates that the company is collecting its accounts receivable more efficiently. This could imply that U.S. Physical Therapy, Inc. has effective credit policies in place, is managing its outstanding receivables well, and is potentially extending credit to customers with lower default risk.
The overall trend of increasing receivables turnover ratios over the past few years reflects positively on the company's ability to convert its credit sales into cash. This efficiency in collecting receivables is beneficial for the company's cash flow and liquidity position.
Peer comparison
Dec 31, 2023