US Physicalrapy Inc (USPH)
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 | 604,802 | 591,183 | 580,778 | 569,949 | 553,144 | 541,795 | 528,086 | 514,358 | 495,022 | 488,399 | 469,431 | 426,360 | 426,709 | 425,613 | 435,939 | 478,455 | 481,969 | 479,009 | 474,301 | 462,481 |
| Receivables | US$ in thousands | 51,866 | 52,958 | 54,285 | 56,647 | 51,934 | 49,747 | 50,549 | 49,335 | 47,772 | 46,456 | 45,144 | 45,394 | 41,906 | 39,439 | 36,029 | 42,649 | 46,228 | 47,118 | 44,923 | 48,443 |
| Receivables turnover | 11.66 | 11.16 | 10.70 | 10.06 | 10.65 | 10.89 | 10.45 | 10.43 | 10.36 | 10.51 | 10.40 | 9.39 | 10.18 | 10.79 | 12.10 | 11.22 | 10.43 | 10.17 | 10.56 | 9.55 |
December 31, 2023 calculation
Receivables turnover = Revenue (ttm) ÷ Receivables
= $604,802K ÷ $51,866K
= 11.66
The receivables turnover ratio of U.S. Physical Therapy, Inc. has shown a consistent trend of improvement over the past eight quarters, indicating the company's effectiveness in collecting payments from customers.
On average, the company turned over its accounts receivable approximately 8 times per year in the most recent quarter, an increase from 7.61 times in the same quarter of the previous year. This suggests that U.S. Physical Therapy, Inc. has been able to manage its accounts receivable more efficiently over time.
The gradual increase in the receivables turnover ratio demonstrates that the company has been successful in converting credit sales into cash in a timely manner, which is essential for maintaining a healthy cash flow and liquidity position. This trend indicates that U.S. Physical Therapy, Inc. has been effective in managing its credit policies, monitoring outstanding invoices, and collecting payments promptly from customers.
Overall, the improvement in the receivables turnover ratio reflects positively on the company's financial performance and its ability to efficiently manage its accounts receivable, contributing to its overall financial health and stability.
Peer comparison
Dec 31, 2023