United Therapeutics Corporation (UTHR)

Days of sales outstanding (DSO)

		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
Receivables turnover		8.13	8.31	7.56	14.42	8.64	7.52	9.67	9.72	8.39	8.23	9.73	11.35	9.48	9.19	8.29	9.64	9.57	8.27	8.45	10.02
DSO	days	44.88	43.95	48.30	25.31	42.25	48.51	37.75	37.54	43.51	44.34	37.52	32.16	38.52	39.74	44.05	37.85	38.14	44.11	43.17	36.43

December 31, 2023 calculation

DSO = 365 ÷ Receivables turnover
= 365 ÷ 8.13
= 44.88

To analyze United Therapeutics Corp's Days of Sales Outstanding (DSO) based on the data provided, we observe a fluctuating trend over the past eight quarters. In Q1 2022, DSO stood at 35.19 days, followed by a slight increase to 35.38 days in Q2 2022. Subsequently, there was a notable decrease to 45.47 days in Q3 2022, indicating a shorter period for the company to collect its accounts receivable.

However, in Q4 2022, DSO decreased further to 41.55 days, suggesting an improvement in the company's collection efficiency. This trend continued into Q1 2023 when DSO dropped to 24.78 days, reflecting a significant enhancement in the company's ability to convert sales into cash. Nonetheless, in Q2 2023, DSO increased to 47.15 days, indicating a longer collection period compared to the previous quarter.

In Q3 2023, DSO slightly decreased to 42.82 days but remained higher than the levels seen in Q1 2023 and Q4 2022. Finally, in Q4 2023, DSO increased slightly to 43.74 days, suggesting a slight deterioration in the company's receivables collection performance compared to the preceding quarter.

Overall, United Therapeutics Corp's DSO exhibits fluctuations, with periods of improvement followed by some variability. Further analysis may be needed to understand the underlying reasons for these changes and their potential impact on the company's cash flow and working capital management.