Worthington Steel Inc (WS)
Receivables turnover
| May 31, 2024 | Feb 29, 2024 | Nov 30, 2023 | Aug 31, 2023 | Feb 28, 2023 | Nov 30, 2022 | Aug 31, 2022 | ||
|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 3,431,528 | 3,301,228 | 3,363,828 | 3,630,468 | |||
| Receivables | US$ in thousands | 476,800 | 475,000 | 430,100 | — | — | — | — |
| Receivables turnover | 7.20 | 6.95 | 7.82 | — |
May 31, 2024 calculation
Receivables turnover = Revenue (ttm) ÷ Receivables
= $3,431,528K ÷ $476,800K
= 7.20
Based on the given data, the receivables turnover for Worthington Steel Inc has shown some variability over the past few periods. In May 31, 2024, the receivables turnover ratio was 7.20, indicating that the company collected its accounts receivables approximately 7.20 times during the year. This ratio decreased slightly to 6.95 in February 29, 2024, before increasing to 7.82 in November 30, 2023.
Overall, the trend in receivables turnover ratios suggests that Worthington Steel Inc has been efficient in collecting its accounts receivables. A higher turnover ratio indicates that the company is collecting its receivables more quickly, which can be a positive sign of strong liquidity and effective credit management. However, it is important to monitor this ratio over time to ensure that the company continues to effectively manage its receivables.
Peer comparison
May 31, 2024