Spirit Airlines (STU:S64) Receivables Turnover : 5.28 (As of Sep. 2024)

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What is Spirit Airlines Receivables Turnover?

The Receivables Turnover ratio measures the number of times a company collects its average accounts receivable balance. It is calculated as Revenue divided by average Accounts Receivable. An efficient company has a higher accounts receivable turnover ratio while an inefficient company has a lower ratio. Spirit Airlines's Revenue for the three months ended in Sep. 2024 was €1,079 Mil. Spirit Airlines's average Accounts Receivable for the three months ended in Sep. 2024 was €204 Mil. Hence, Spirit Airlines's Receivables Turnover for the three months ended in Sep. 2024 was 5.28.

Spirit Airlines Receivables Turnover Historical Data

The historical data trend for Spirit Airlines's Receivables Turnover can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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Spirit Airlines Receivables Turnover Chart

Spirit Airlines Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Receivables Turnover

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63.65

29.25

38.30

31.87

26.25

Spirit Airlines Quarterly Data
	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24
Receivables Turnover	Get a 7-Day Free Trial															7.09	6.95	6.07	6.00	5.28

Competitive Comparison of Spirit Airlines's Receivables Turnover

For the Airlines subindustry, Spirit Airlines's Receivables Turnover, along with its competitors' market caps and Receivables Turnover data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Spirit Airlines's Receivables Turnover Distribution in the Transportation Industry

For the Transportation industry and Industrials sector, Spirit Airlines's Receivables Turnover distribution charts can be found below:

* The bar in red indicates where Spirit Airlines's Receivables Turnover falls into.

Spirit Airlines Receivables Turnover Calculation

Receivables Turnover measures the number of times a company collects its average accounts receivable balance.

Spirit Airlines's Receivables Turnover for the fiscal year that ended in Dec. 2023 is calculated as

	Receivables Turnover (A: Dec. 2023 )
=	Revenue	/	Average Total Inventories
=	Revenue (A: Dec. 2023 )	/ (	(Accounts Receivable (A: Dec. 2022 )	+	Accounts Receivable (A: Dec. 2023 ))	/	count )
=	4917.457	/ (	(186.229	+	188.414)	/	2 )
=	4917.457	/	187.3215
=	26.25

Spirit Airlines's Receivables Turnover for the quarter that ended in Sep. 2024 is calculated as

	Receivables Turnover (Q: Sep. 2024 )
=	Revenue	/	Average Total Inventories
=	Revenue (Q: Sep. 2024 )	/ (	(Accounts Receivable (Q: Jun. 2024 )	+	Accounts Receivable (Q: Sep. 2024 ))	/	count )
=	1078.591	/ (	(201.268	+	207.301)	/	2 )
=	1078.591	/	204.2845
=	5.28

Spirit Airlines (STU:S64) Receivables Turnover Explanation

An efficient company has a higher accounts receivable turnover ratio while an inefficient company has a lower ratio. This metric is commonly used to compare companies within the same industry to check whether they are on par with their competitors.

Spirit Airlines Receivables Turnover Related Terms

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Spirit Airlines Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Transportation » Spirit Airlines Inc (STU:S64) » Definitions » Receivables Turnover

Comparable Companies

Traded in Other Exchanges

SAVEQ:USA SAVE:Mexico 0L8U:UK S64:Germany

Address

2800 Executive Way, Miramar, FL, USA, 33025

Website

https://www.spirit.com

Spirit Airlines Inc serves the United States, Latin America, and Caribbean as an airline operator. It primarily offers customers unbundled base fares to strip out any unneeded travel amenities. If needed, a customer can elect for additional options at an extra charge. Flight crews are entirely interchangeable across all aircraft, and maintenance and other support services are simplified due to not having an overly complex fleet. The company has one operating segment, air transportation, owing to its system wide route structure. It may decide to expand its network if a market is underserved or overpriced. The majority of revenue is derived from the United States.

Spirit Airlines Headlines

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