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. Novanta's Revenue for the
three
months ended in Mar. 2024 was $230.9 Mil. Novanta's average Accounts Receivable for the
three
months ended in Mar. 2024 was $145.2 Mil.
Hence, Novanta's Receivables Turnover for the
three
months ended in Mar. 2024 was 1.59.
Novanta Receivables Turnover Historical Data
The historical data trend for Novanta'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.
Competitive Comparison of Novanta's Receivables Turnover
For the Scientific & Technical Instruments subindustry, Novanta'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.
Novanta's Receivables Turnover Distribution in the Hardware Industry
For the Hardware industry and Technology sector, Novanta's Receivables Turnover distribution charts can be found below:
* The bar in red indicates where Novanta's Receivables Turnover falls into.
Novanta Receivables Turnover Calculation
Receivables Turnover measures the number of times a company collects its average accounts receivable balance.
Novanta's Receivables Turnover for the fiscal year that ended in Dec. 2023 is calculated as
* 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.
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.
Novanta Receivables Turnover Related Terms
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Novanta Inc manufactures photonic and motion-control components for original equipment manufacturers in the medical equipment and industrial technology markets. The firm operates in three segments: photonics, vision, and precision motion. The photonics segment, which sells photonics-based products that include carbon dioxide lasers, laser scanning, super-resolution imaging lasers, and laser beam delivery items. The vision segment sells medical-grade technologies, including visualization solutions, imaging informatics products, and thermal printers contributing the majority of revenue. The precision motion segment sells optical encoders, motion control technology, and precision machined components. The firm generates the majority of its revenue from the United States and Europe.
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