Name: Receivables Turnover

Definition: Receivables turnover tells you how quickly the company collects payments from customers after making sales on credit. A high turnover means customers pay on time and cash flows smoothly. Slow turnover suggests delayed collections, which can create cash shortages and financing stress.

Interpretation:
• In '2021', CGEN's receivables turnover was 31.91, showing efficiency in collecting outstanding receivables. Industry average for Biotechnology: Biological Products (No Diagnostic Substances) in '2021' stood at 2.22.
• In '2022', CGEN's receivables turnover was 29.70, showing efficiency in collecting outstanding receivables. The decline from '2021' may indicate some operational or financial challenges. Industry average for Biotechnology: Biological Products (No Diagnostic Substances) in '2022' stood at 2.41. Industry average increased by 0.19 compared to previous year.
• In '2023', CGEN's receivables turnover was 1.09, showing efficiency in collecting outstanding receivables. The decline from '2022' may indicate some operational or financial challenges. Industry average for Biotechnology: Biological Products (No Diagnostic Substances) in '2023' stood at 2.11. Industry average declined by 0.30 from previous year.
• In '2024', CGEN's receivables turnover was 0.90, showing efficiency in collecting outstanding receivables. The decline from '2023' may indicate some operational or financial challenges. Industry average for Biotechnology: Biological Products (No Diagnostic Substances) in '2024' stood at 2.44. Industry average increased by 0.33 compared to previous year.
Overall, CGEN's receivables turnover has been volatile but showed a downward trend over the past 4 years.

Formula: Receivables Turnover = Net Credit Sales / Average Accounts Receivable

Good Range: Ranges 5 to 15 depending on credit terms.