Vulcan Materials Company (VMC)
Receivables turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 7,781,900 | 7,315,200 | 5,552,200 | 4,856,800 | 4,929,100 |
| Receivables | US$ in thousands | -13,600 | 845,600 | 783,200 | 512,945 | 532,311 |
| Receivables turnover | — | 8.65 | 7.09 | 9.47 | 9.26 |
December 31, 2023 calculation
Receivables turnover = Revenue ÷ Receivables
= $7,781,900K ÷ $-13,600K
= —
Vulcan Materials Co's receivables turnover has shown a fluctuating trend over the past five years. The receivables turnover ratio measures how efficiently the company is collecting payments from its customers - a higher ratio indicates a faster turnover of receivables.
In 2023, the receivables turnover ratio improved significantly to 8.75, compared to 7.00 in 2022 and 6.62 in 2021. This indicates that the company was able to collect payments from its customers at a faster rate in 2023. However, it's worth noting that the ratio was even higher at 8.73 in 2020 and 8.65 in 2019.
Overall, Vulcan Materials Co's receivables turnover has been relatively strong, suggesting effective management of accounts receivable and efficient collection practices.
Peer comparison
Dec 31, 2023