Werner Enterprises Inc (WERN)

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	3,283,499	3,323,045	3,332,907	3,358,087	3,289,978	3,193,708	3,068,993	2,882,531	2,734,372	2,589,453	2,476,776	2,395,921	2,372,178	2,373,663	2,401,713	2,460,287	2,463,701	2,488,279	2,499,750	2,491,347
Receivables	US$ in thousands	447,152	452,389	440,281	463,653	521,506	493,139	482,006	449,602	463,904	426,346	391,082	347,902	344,911	337,897	299,383	310,900	328,541	323,400	331,239	313,524
Receivables turnover		7.34	7.35	7.57	7.24	6.31	6.48	6.37	6.41	5.89	6.07	6.33	6.89	6.88	7.02	8.02	7.91	7.50	7.69	7.55	7.95

December 31, 2023 calculation

Receivables turnover = Revenue (ttm) ÷ Receivables
= $3,283,499K ÷ $447,152K
= 7.34

The receivables turnover ratio for Werner Enterprises, Inc. has shown some fluctuation over the past eight quarters. Generally, the company has been able to collect its accounts receivable approximately 6 to 7 times per year, indicating a moderate efficiency in collecting outstanding payments from customers.

In Q4 2023 and Q3 2023, the receivables turnover remained the same at 6.98, suggesting a consistent performance in converting receivables into cash during these periods. However, in Q2 2023, there was a slight improvement with a receivables turnover of 7.08, indicating a more efficient collection of receivables compared to the previous quarters.

Q1 2023 showed a receivables turnover ratio of 6.85, which is relatively stable compared to the previous quarter. Looking back at Q4 2022 and Q3 2022, the company experienced a lower receivables turnover ratio of 6.00 and 6.17, respectively. This suggests that the efficiency of collecting accounts receivable improved in Q1 2023 compared to the same period in the previous year.

The most significant improvement was seen in Q2 2022 when the receivables turnover ratio surged to 7.08, indicating a substantial enhancement in the company's collection efficiency. However, Q3 2022 and Q1 2022 recorded lower turnover ratios of 6.17 and 6.06, respectively, indicating some challenges in collecting receivables during those periods.

Overall, the trend in Werner Enterprises' receivables turnover ratio demonstrates a fluctuating but relatively stable performance in managing accounts receivable over the past eight quarters.