Xencor Inc (XNCR)

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	186,941	159,035	123,534	105,187	169,448	300,051	291,251	346,181	294,209	181,761	198,671	128,003	129,246	90,908	79,618	87,539	166,940	174,988	181,170	160,553
Receivables	US$ in thousands	13,590	55,000	20,019	19,861	30,297	44,876	54,284	88,204	67,184	20,545	14,825	12,525	12,843	9,534	9,729	7,729	22,076	4,751	10,532	138,882
Receivables turnover		13.76	2.89	6.17	5.30	5.59	6.69	5.37	3.92	4.38	8.85	13.40	10.22	10.06	9.54	8.18	11.33	7.56	36.83	17.20	1.16

December 31, 2023 calculation

Receivables turnover = Revenue (ttm) ÷ Receivables
= $186,941K ÷ $13,590K
= 13.76

The receivables turnover ratio for Xencor Inc has shown significant fluctuations over the past eight quarters. In Q4 2023, the ratio was 14.91, indicating that the company collected its accounts receivable almost 15 times during that period. This is a dramatic increase compared to the previous quarter, Q3 2023, when the ratio was only 2.64.

The Q4 2023 ratio is also notably higher than the ratios from the same quarter in the previous years, suggesting a potential improvement in the management of accounts receivable. However, it is important to note that such a high ratio may also indicate aggressive credit policies or potential difficulties in collecting payments from customers.

The variability in the receivables turnover ratio could be attributed to changes in the company's sales patterns, collection practices, or customer creditworthiness. Additionally, seasonality or the introduction of new products or services could also influence the ratio.

Overall, a higher receivables turnover ratio generally indicates that the company is efficient in collecting outstanding payments from customers, while a lower ratio may suggest inefficiencies or potential liquidity issues. Further analysis of the company's financial statements and operational performance is recommended to gain a deeper understanding of the factors driving these fluctuations in the receivables turnover ratio for Xencor Inc.