Xencor Inc (XNCR)

Receivables turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	US$ in thousands	186,926	169,417	294,261	130,765	170,319
Receivables	US$ in thousands	13,590	30,297	67,184	12,843	22,076
Receivables turnover		13.75	5.59	4.38	10.18	7.72

December 31, 2023 calculation

Receivables turnover = Revenue ÷ Receivables
= $186,926K ÷ $13,590K
= 13.75

The receivables turnover of Xencor Inc has fluctuated over the past five years, indicating varying efficiency in collecting receivables. In 2023, the receivables turnover ratio reached 14.91, demonstrating a significant improvement from the previous year's ratio of 5.68. This sharp increase reflects a more efficient collection of receivables during the most recent period.

Comparing to 2022 and 2021, where the ratios were 5.68 and 4.14 respectively, the company showed a substantial enhancement in converting its accounts receivable into cash within a shorter period in 2023. This suggests that Xencor Inc effectively managed its accounts receivables in 2023.

Furthermore, in 2020 and 2019, the receivables turnover ratios were 10.72 and 7.10 respectively. The ratios for these two years indicate relatively better performance in collecting receivables than in 2021 and 2022, but the 2023 ratio has shown a significant improvement over these periods.

Overall, the increasing trend in the receivables turnover ratio from 2019 to 2023 suggests an improvement in Xencor Inc's efficiency in collecting receivables, with 2023 demonstrating the highest efficiency level in converting receivables into cash over the five-year period analyzed.