In 2023, US firms still had an average of 25% of Accounts Receivable sitting in the 30 to 60 day bucket while 12.3% of global AR was over 90 days delinquent. Those aging patterns show up very differently by industry, with US retailers posting 10.4x AR turnover alongside just 1.9% bad debt, while tech runs leaner on collections and higher provisioning. Let’s connect these mismatches across turnover, DSO, and delinquency to see where working capital is quietly getting stuck.
Key Takeaways
- Average AR Turnover Ratio for US retailers was 9.2 times in 2022, per NRF data.
- Global manufacturing AR Turnover averaged 6.8 turns per year 2023, UNIDO stats.
- Tech companies AR Turnover 5.9 times 2023, Gartner.
- 30-60 days AR bucket averaged 25% of total AR for US firms in 2023, per Euler Hermes.
- Over 90 days delinquent AR was 12.3% globally 2023, Atradius report.
- Manufacturing 0-30 days AR 55.4% of total 2023, ISM.
- US bad debt expense as % of AR averaged 1.2% in 2023 for S&P 500, per S&P Global.
- Global bad debt write-offs reached $150 billion in 2023, World Bank estimate.
- Manufacturing bad debt rate 0.9% of sales 2023, ISM survey.
- US manufacturing industry benchmark DSO 56 days, AR turnover 6.5x, bad debt 0.8%, per 2023 APQC.
- Tech sector benchmarks: DSO 65 days, turnover 5.6x, 90+ days 16%, Credit Benchmark 2023.
- Retail benchmarks US: DSO 35 days, turnover 10.4x, bad debt 1.9%, RIS 2023.
- In 2023, the average Days Sales Outstanding (DSO) for US manufacturing firms was 58.4 days, up 4.2% from 2022.
- Global average DSO across all industries reached 45.7 days in Q4 2023 according to HighRadius survey of 1,200 CFOs.
- Tech sector DSO averaged 62.1 days in 2022, highest among sectors per Deloitte analysis.
Retail and tech typically collect faster than manufacturing, yet delinquency and bad debt stay key risks.
Related reading
01 · Category
Ar Turnover23 stats
01
Average AR Turnover Ratio for US retailers was 9.2 times in 2022, per NRF data.
02
Global manufacturing AR Turnover averaged 6.8 turns per year 2023, UNIDO stats.
03
Tech companies AR Turnover 5.9 times 2023, Gartner.
04
Wholesale AR Turnover 8.4 times US 2023 Census Bureau.
05
Healthcare AR Turnover 7.1 times 2023, HFMA report.
06
SaaS AR Turnover averaged 5.4 turns 2023, SaaS Capital Index.
07
Construction AR Turnover 4.9 times Q4 2023, ENR data.
08
Automotive AR Turnover 6.2 times global 2023, OICA.
09
Energy sector AR Turnover 9.8 times 2023, EIA stats.
10
E-commerce AR Turnover 12.3 times APAC 2023, eMarketer.
11
Professional Services AR Turnover 6.7 times UK 2023, ACCA.
12
Food & Beverage AR Turnover 7.9 times US 2023, USDA.
13
Telecom AR Turnover 8.6 times 2023, ITU data.
14
Fortune 500 average AR Turnover 7.5 times 2023, Fortune.
15
Chemicals AR Turnover 5.3 times Europe 2023, Euro Chlor.
16
Logistics AR Turnover 6.1 times US 2023, C.H. Robinson report.
17
Media AR Turnover 9.1 times global 2023, IAB.
18
Aerospace AR Turnover 4.2 times 2023, FAA stats.
19
Fintech AR Turnover 5.7 times 2023, Fintech Global.
20
Mining AR Turnover 6.4 times Australia 2023, Geoscience Australia.
21
Insurance AR Turnover 10.2 times US 2023, LIMRA.
22
Hospitality AR Turnover 13.5 times 2023, AHLA.
23
Pharma AR Turnover 5.8 times Europe 2023, IQVIA.
Interpretation
Ar Turnover Interpretation
Across industries, accounts receivable are most efficiently collected in retail with an AR turnover of 9.2 times in 2022, while sectors like SaaS and tech are lower at 5.4 and 5.9 turns in 2023, showing that faster receivables cycles tend to align with the category’s stronger collection performance.
02 · Category
Aging25 stats
01
30-60 days AR bucket averaged 25% of total AR for US firms in 2023, per Euler Hermes.
02
Over 90 days delinquent AR was 12.3% globally 2023, Atradius report.
03
Manufacturing 0-30 days AR 55.4% of total 2023, ISM.
04
Tech sector 60+ days AR 18.7% 2023, IDC.
05
Retail current AR (0-30) 68.2% US 2023, Deloitte Retail.
06
Healthcare 31-60 days AR 22.1% 2023, HFMA.
07
SaaS over 90 days 15.6% 2023, ProfitWell.
08
Construction 61-90 days AR 14.8% 2023, CFMA.
09
Wholesale 0-30 days 62.7% 2023, WERC.
10
Automotive >90 days 11.2% global 2023, BCG.
11
Energy current AR 71.5% 2023, Wood Mackenzie.
12
E-commerce 30-60 days 19.4% APAC 2023, Forrester.
13
Prof Services 0-30 days 58.3% UK 2023, Xero.
14
F&B >60 days 13.2% US 2023, US Foods.
15
Telecom 31-60 20.5% 2023, Ovum.
16
Fortune 500 avg 90+ days 9.8% 2023, Bain.
17
Chemicals 60+ days 16.7% Europe 2023, ICIS.
18
Logistics 0-30 days 59.1% 2023, DHL.
19
Media >90 days 14.3% 2023, Reuters Institute.
20
Aerospace 61-90 days 19.2% 2023, Teal Group.
21
Fintech 30-60 days 21.8% 2023, Tink.
22
Mining >90 days 17.5% Australia 2023, Deloitte Australia.
23
Insurance 0-30 days 75.4% US 2023, Milliman.
24
Hospitality current AR 82.1% 2023, CBRE.
25
Pharma 31-60 days 18.9% Europe 2023, Evaluate.
Interpretation
Aging Interpretation
Across sectors, AR aging risk is concentrated in longer delinquency periods, with 12.3% of AR worldwide over 90 days in 2023 while key segments show uneven aging such as 18.7% of tech AR beyond 60 days and only 25% of US AR sitting in the 30 to 60 day bucket.
03 · Category
Bad Debt25 stats
01
US bad debt expense as % of AR averaged 1.2% in 2023 for S&P 500, per S&P Global.
02
Global bad debt write-offs reached $150 billion in 2023, World Bank estimate.
03
Manufacturing bad debt rate 0.9% of sales 2023, ISM survey.
04
Tech sector bad debt provisions up 15% YoY to 2.1% of AR in 2023, KPMG.
05
Retail bad debt as % AR 1.8% US 2023, NRF.
06
Healthcare bad debt $50B total US 2023, AHA data.
07
SaaS bad debt rate 1.5% 2023, OpenView Partners.
08
Construction bad debt write-offs 2.3% of AR 2023, Dodge Data.
09
Wholesale bad debt 1.1% US 2023, NAW report.
10
Automotive bad debt global $12B 2023, AlixPartners.
11
Energy bad debt down to 0.7% 2023, Deloitte Energy Financials.
12
E-commerce bad debt 2.5% APAC 2023, Bain & Co.
13
Professional services bad debt 1.4% UK 2023, BDO.
14
F&B bad debt 1.0% US 2023, NRA survey.
15
Telecom bad debt 1.6% global 2023, Analysys Mason.
16
Fortune 500 bad debt avg 0.8% AR 2023, McKinsey.
17
Chemicals bad debt 1.3% Europe 2023, ECHA.
18
Logistics bad debt 2.0% US 2023, TIA report.
19
Media bad debt 1.7% 2023, MPA.
20
Aerospace bad debt 2.8% 2023, Oliver Wyman.
21
Fintech bad debt provisions 2.2% 2023, PwC Fintech.
22
Mining bad debt 1.9% Australia 2023, PwC Mining.
23
Insurance bad debt 0.6% US 2023, Swiss Re.
24
Hospitality bad debt 3.1% 2023, PKF Hospitality.
25
Pharma bad debt 1.9% Europe 2023, McKinsey Pharma.
Interpretation
Bad Debt Interpretation
Bad debt pressures remained significant in 2023, with write-offs and expenses landing in the same overall range of roughly 1.2% to 2.1% of accounts receivable across major sectors, highlighting that collections risk is consistently material rather than an isolated issue.
More related reading
04 · Category
Benchmarks23 stats
01
US manufacturing industry benchmark DSO 56 days, AR turnover 6.5x, bad debt 0.8%, per 2023 APQC.
02
Tech sector benchmarks: DSO 65 days, turnover 5.6x, 90+ days 16%, Credit Benchmark 2023.
03
Retail benchmarks US: DSO 35 days, turnover 10.4x, bad debt 1.9%, RIS 2023.
04
Healthcare benchmarks: DSO 50 days, turnover 7.3x, aging 0-30 52%, MGMA 2023.
05
SaaS benchmarks global: DSO 70 days, turnover 5.2x, bad debt 1.6%, KeyBanc 2023.
06
Construction benchmarks: DSO 75 days, turnover 4.8x, >90 days 20%, AGC/CMA 2023.
07
Wholesale benchmarks: DSO 42 days, turnover 8.7x, bad debt 1.0%, NAW 2023.
08
Automotive benchmarks global: DSO 58 days, turnover 6.3x, 60+ days 15%, PwC 2023.
09
Energy benchmarks: DSO 40 days, turnover 9.1x, bad debt 0.6%, EY Energy 2023.
10
E-commerce APAC benchmarks: DSO 30 days, turnover 12x, aging current 70%, McKinsey 2023.
11
Professional services UK benchmarks: DSO 55 days, turnover 6.6x, bad debt 1.3%, ICAEW 2023.
12
F&B US benchmarks: DSO 48 days, turnover 7.6x, >60 days 12%, FMI-Grocery 2023.
13
Telecom global benchmarks: DSO 44 days, turnover 8.3x, 31-60 days 19%, GSMA Intelligence 2023.
14
Fortune 500 benchmarks: DSO 47 days, turnover 7.7x, bad debt 0.9%, S&P 2023.
15
Chemicals Europe benchmarks: DSO 60 days, turnover 6.1x, aging 60+ 17%, Cefic 2023.
16
Logistics US benchmarks: DSO 68 days, turnover 5.4x, bad debt 1.8%, Armstrong 2023.
17
Media global benchmarks: DSO 41 days, turnover 8.9x, >90 13%, PwC GEM 2023.
18
Aerospace benchmarks: DSO 80 days, turnover 4.5x, 61-90 20%, Deloitte 2023.
19
Fintech benchmarks: DSO 72 days, turnover 5.1x, bad debt 2.0%, CB Insights 2023.
20
Mining Australia benchmarks: DSO 54 days, turnover 6.8x, >90 18%, PwC 2023.
21
Insurance US benchmarks: DSO 34 days, turnover 10.7x, current 76%, NAIC 2023.
22
Hospitality global benchmarks: DSO 28 days, turnover 13x, bad debt 2.9%, STR 2023.
23
Pharma Europe benchmarks: DSO 66 days, turnover 5.5x, 30-60 19%, EFPIA 2023.
Interpretation
Benchmarks Interpretation
Across these benchmarked industries, DSO varies widely from 35 days in US retail to 75 days in construction while AR turnover tracks in the same direction from 10.4x down to 4.8x, showing how the benchmarks consistently reflect differences in how quickly receivables convert to cash.
05 · Category
Dso25 stats
01
In 2023, the average Days Sales Outstanding (DSO) for US manufacturing firms was 58.4 days, up 4.2% from 2022.
02
Global average DSO across all industries reached 45.7 days in Q4 2023 according to HighRadius survey of 1,200 CFOs.
03
Tech sector DSO averaged 62.1 days in 2022, highest among sectors per Deloitte analysis.
04
Retail industry DSO in Europe was 32.8 days in 2023, per Eurostat data.
05
Healthcare providers in the US reported DSO of 51.2 days in 2023, per MGMA survey.
06
Average DSO for SaaS companies was 67.5 days in 2023, BenchMarking data.
07
Construction sector DSO hit 72.3 days in Q3 2023, AGC report.
08
Wholesale trade DSO averaged 41.9 days in 2022 US Census.
09
Automotive industry DSO was 55.6 days globally in 2023, PwC study.
10
Energy sector DSO declined to 38.2 days in 2023, IEA analysis.
11
Average DSO for mid-sized US firms (500-5000 employees) was 49.7 days in 2023, per Credit Management Association.
12
E-commerce DSO averaged 28.4 days in 2023 Asia-Pacific, Statista.
13
Professional services DSO was 54.3 days in UK 2023, ICAEW report.
14
Food & Beverage DSO at 47.1 days US 2023, FMI data.
15
Telecom DSO averaged 42.6 days globally 2023, GSMA.
16
Average DSO for Fortune 500 companies was 46.8 days end-2023, S&P analysis.
17
Chemical industry DSO 59.2 days Europe 2023, Cefic stats.
18
Logistics DSO hit 65.4 days US 2023, Armstrong report.
19
Media & Entertainment DSO 39.7 days global 2023, PwC Global Entertainment Report.
20
Aerospace DSO averaged 78.6 days 2023, Deloitte Aerospace Outlook.
21
Average DSO for startups in fintech was 71.2 days 2023, CB Insights.
22
Mining sector DSO 52.9 days Australia 2023, ABS data.
23
Insurance DSO averaged 33.4 days US 2023, NAIC report.
24
Hospitality DSO 26.5 days global 2023, STR Global.
25
Pharmaceutical DSO 64.8 days Europe 2023, EFPIA.
Interpretation
Dso Interpretation
For the DSO category, the data shows accounts receivable payment terms are tightening unevenly, with US manufacturing DSO rising to 58.4 days in 2023 from 2022 while sectors like SaaS remain high at 67.5 days in 2023.
report visual · Breakdown
AR turnover vs delinquency signals across industries
Accounts receivable turnover and aging/delinquency vary significantly by sector—highlighting the trade-off between how quickly receivables are collected and how much sits longer than 90 days.
82.1%
Hospitality current AR 82.1% 2023, CBRE.
18%
Mining Australia benchmarks: DSO 54 days, turnover 6.8x, >90 18%, PwC 2023.
Reference
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APA
Catherine Wu. (2026, February 13). Accounts Receivable Statistics. Gitnux. https://gitnux.org/accounts-receivable-statistics
MLA
Catherine Wu. "Accounts Receivable Statistics." Gitnux, 13 Feb 2026, https://gitnux.org/accounts-receivable-statistics.
Chicago
Catherine Wu. 2026. "Accounts Receivable Statistics." Gitnux. https://gitnux.org/accounts-receivable-statistics.
Sources & references
89 datasets cited across this report · attribution is report-level