Worthington Industries Inc (WOR)
Receivables turnover
| Aug 31, 2024 | Feb 29, 2024 | Nov 30, 2023 | Aug 31, 2023 | May 31, 2023 | Feb 28, 2023 | Nov 30, 2022 | Aug 31, 2022 | May 31, 2022 | Feb 28, 2022 | Nov 30, 2021 | Aug 31, 2021 | May 31, 2021 | Feb 28, 2021 | Nov 30, 2020 | Aug 31, 2020 | May 31, 2020 | Feb 29, 2020 | Nov 30, 2019 | Aug 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 1,972,901 | 2,944,453 | 2,974,013 | 3,062,633 | 4,159,375 | 4,450,815 | 5,482,740 | 5,540,060 | 5,242,220 | 4,700,239 | 4,081,108 | 3,579,340 | 3,171,429 | 2,804,737 | 2,809,624 | 2,906,169 | 3,059,119 | 3,386,334 | 3,496,719 | 3,627,308 |
| Receivables | US$ in thousands | 173,208 | 221,787 | 646,337 | 700,880 | 697,085 | 731,518 | 714,502 | 820,663 | 878,049 | 859,411 | 738,312 | 718,368 | 641,922 | 529,119 | 445,183 | 425,425 | 349,414 | 483,893 | 489,785 | 480,639 |
| Receivables turnover | 11.39 | 13.28 | 4.60 | 4.37 | 5.97 | 6.08 | 7.67 | 6.75 | 5.97 | 5.47 | 5.53 | 4.98 | 4.94 | 5.30 | 6.31 | 6.83 | 8.75 | 7.00 | 7.14 | 7.55 |
August 31, 2024 calculation
Receivables turnover = Revenue (ttm) ÷ Receivables
= $1,972,901K ÷ $173,208K
= 11.39
The receivables turnover ratio of Worthington Industries Inc has shown fluctuations over the past several quarters. A higher receivables turnover ratio indicates that the company is collecting its accounts receivable more frequently or efficiently.
Based on the data provided:
- The receivables turnover ratio ranged from a low of 4.37 in August 31, 2023, to a peak of 13.28 in February 29, 2024.
- The average receivables turnover ratio for the period is approximately 6.63.
- The receivables turnover ratio has generally been above 5, indicating that Worthington Industries Inc typically collects its receivables about 5 to 13 times a year.
It is important to further analyze the reasons behind the fluctuations in the receivables turnover ratio, as significant changes could be indicative of changes in the company's credit policies, customer payment behavior, or overall economic conditions. Additionally, comparing the ratio to industry benchmarks can provide further insights into Worthington Industries Inc's collection efficiency relative to its peers.
Peer comparison
Aug 31, 2024