Quipt Home Medical (TSX:QIPT) Receivables Turnover : 2.01 (As of Jun. 2024)

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What is Quipt Home Medical 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. Quipt Home Medical's Revenue for the three months ended in Jun. 2024 was C$87.7 Mil. Quipt Home Medical's average Accounts Receivable for the three months ended in Jun. 2024 was C$43.6 Mil. Hence, Quipt Home Medical's Receivables Turnover for the three months ended in Jun. 2024 was 2.01.

Quipt Home Medical Receivables Turnover Historical Data

The historical data trend for Quipt Home Medical'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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Quipt Home Medical Receivables Turnover Chart

Quipt Home Medical Annual Data

Trend

Sep14

Sep15

Sep16

Sep17

Sep18

Sep19

Sep20

Sep21

Sep22

Sep23

Receivables Turnover

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6.47

7.87

9.55

10.09

10.53

Quipt Home Medical Quarterly Data
	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24
Receivables Turnover	Get a 7-Day Free Trial															2.42	2.53	2.60	2.27	2.01

Competitive Comparison of Quipt Home Medical's Receivables Turnover

For the Medical Devices subindustry, Quipt Home Medical'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.

Quipt Home Medical's Receivables Turnover Distribution in the Medical Devices & Instruments Industry

For the Medical Devices & Instruments industry and Healthcare sector, Quipt Home Medical's Receivables Turnover distribution charts can be found below:

* The bar in red indicates where Quipt Home Medical's Receivables Turnover falls into.

Quipt Home Medical Receivables Turnover Calculation

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

Quipt Home Medical's Receivables Turnover for the fiscal year that ended in Sep. 2023 is calculated as

	Receivables Turnover (A: Sep. 2023 )
=	Revenue	/	Average Total Inventories
=	Revenue (A: Sep. 2023 )	/ (	(Accounts Receivable (A: Sep. 2022 )	+	Accounts Receivable (A: Sep. 2023 ))	/	count )
=	300.039	/ (	(21.853	+	35.151)	/	2 )
=	300.039	/	28.502
=	10.53

Quipt Home Medical's Receivables Turnover for the quarter that ended in Jun. 2024 is calculated as

	Receivables Turnover (Q: Jun. 2024 )
=	Revenue	/	Average Total Inventories
=	Revenue (Q: Jun. 2024 )	/ (	(Accounts Receivable (Q: Mar. 2024 )	+	Accounts Receivable (Q: Jun. 2024 ))	/	count )
=	87.667	/ (	(44.102	+	43.049)	/	2 )
=	87.667	/	43.5755
=	2.01

Quipt Home Medical (TSX:QIPT) 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.

Quipt Home Medical Receivables Turnover Related Terms

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Quipt Home Medical Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Healthcare » Medical Devices & Instruments » Quipt Home Medical Corp (TSX:QIPT) » Definitions » Receivables Turnover

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QIPT:USA

Address

1019 Town Drive, Wilder, KY, USA, 41076

Website

https://www.quipthomemedical.com

Quipt Home Medical Corp provides in-home monitoring equipment, supplies, and services to patients. The company's services consist of Daily and Ambulatory Aides, Power Mobility, INR Self-Testing, Respiratory Equipment Rental, Home ventilation, Oxygen Therapy, and Sleep Apnea and PAP Treatment.

Executives

Mark Alan Greenberg

Director