Clear Secure Inc (YOU)
Receivables turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | ||
|---|---|---|---|---|
| Revenue | US$ in thousands | 614,797 | 436,994 | 253,595 |
| Receivables | US$ in thousands | 526 | 1,169 | 5,331 |
| Receivables turnover | 1,168.82 | 373.82 | 47.57 |
December 31, 2023 calculation
Receivables turnover = Revenue ÷ Receivables
= $614,797K ÷ $526K
= 1,168.82
Clear Secure Inc's receivables turnover has shown a consistent upward trend over the past three years, increasing from 47.57 in 2021 to 373.82 in 2022 and further to 1,168.82 in 2023. This indicates that the company is collecting its accounts receivable more efficiently each year, with a significant improvement in 2022 and a substantial leap in 2023. A higher receivables turnover ratio suggests that Clear Secure Inc is able to convert its accounts receivable into cash more rapidly, which is a positive sign of effective credit management and liquidity management. The sharp increase in receivables turnover from 2022 to 2023 may suggest that the company has implemented more rigorous credit policies or improved collection processes. Overall, the improving trend in receivables turnover reflects positively on Clear Secure Inc's financial health and operational efficiency.
Peer comparison
Dec 31, 2023