Black Hills Corporation (BKH)

Receivables turnover

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Revenue (ttm)	US$ in thousands	2,331,300	2,531,007	2,586,493	2,649,405	2,551,816	2,322,885	2,240,863	2,139,240	1,949,102	1,872,981	1,838,981	1,793,323	1,696,941	1,688,208	1,667,166	1,674,140	1,734,900	1,758,442	1,754,873	1,776,689
Receivables	US$ in thousands	368,800	313,057	349,669	649,432	525,829	349,784	366,049	532,075	339,669	262,766	270,076	391,582	285,407	242,042	247,013	343,149	272,251	217,854	235,386	391,552
Receivables turnover		6.32	8.08	7.40	4.08	4.85	6.64	6.12	4.02	5.74	7.13	6.81	4.58	5.95	6.97	6.75	4.88	6.37	8.07	7.46	4.54

December 31, 2023 calculation

Receivables turnover = Revenue (ttm) ÷ Receivables
= $2,331,300K ÷ $368,800K
= 6.32

Receivables turnover for Black Hills Corporation has displayed variability over the past eight quarters, ranging from a low of 4.85 in Q4 2022 to a high of 10.26 in Q3 2023. The average receivables turnover stands at approximately 7.39 times over this period. The company's ability to convert its accounts receivable into cash has been relatively strong, with a consistently high turnover ratio, indicating efficient management of credit sales and collection processes. Seasonal fluctuations or changes in customer payment behaviors may have influenced the quarterly variations in receivables turnover. Overall, a higher receivables turnover ratio reflects a more effective credit management strategy, leading to improved liquidity and potentially lower bad debt risks for the company.