Canterbury Park 'New'(Cphc) Financials: Receivables Turnover Compared To Industry Average, Plus Other Key Ratios
Growth Trend (Last 5 Years)
Growth - receivables turnover
This chart shows the historical trend of receivables turnover for CPHC compared to its industry average over the recent years.
Ratio Definition and Interpretation
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', CPHC's receivables turnover was 7.58, showing efficiency in collecting outstanding receivables. Industry average for Services-Misc. Amusement & Recreation in '2021' stood at 4.64.
• In '2022', CPHC's receivables turnover was 7.98, showing efficiency in collecting outstanding receivables. The increase since '2021' reflects strengthening financial performance. Industry average for Services-Misc. Amusement & Recreation in '2022' stood at 4.71. Industry average increased by 0.07 compared to previous year.
• In '2023', CPHC's receivables turnover was 9.21, showing efficiency in collecting outstanding receivables. The increase since '2022' reflects strengthening financial performance. Industry average for Services-Misc. Amusement & Recreation in '2023' stood at 5.30. Industry average increased by 0.59 compared to previous year.
• In '2024', CPHC's receivables turnover was 15.03, showing efficiency in collecting outstanding receivables. The increase since '2023' reflects strengthening financial performance. Industry average for Services-Misc. Amusement & Recreation in '2024' stood at 4.66. Industry average declined by 0.64 from previous year.
Overall, CPHC's receivables turnover has been volatile but showed an upward 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.