Celanese Corporation (CE)

Receivables turnover

Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Revenue US$ in thousands 10,746,000 9,349,000 8,518,000 5,580,000 6,284,000
Receivables US$ in thousands 1,998,000 2,413,000 1,786,000 1,335,000 1,302,000
Receivables turnover 5.38 3.87 4.77 4.18 4.83

December 31, 2023 calculation

Receivables turnover = Revenue ÷ Receivables
= $10,746,000K ÷ $1,998,000K
= 5.38

Based on the data provided, Celanese Corp's receivables turnover has fluctuated over the past five years. The company's receivables turnover ratio in 2023 improved to 6.13 from 4.71 in 2022, indicating that the company collected its accounts receivable more efficiently in 2023. A higher receivables turnover ratio suggests that Celanese Corp was able to convert its accounts receivable into cash more quickly in 2023 compared to the previous year.

Furthermore, when comparing the 2023 receivables turnover ratio to those of 2021, 2020, and 2019, the company also showed improvement in managing its receivables turnover. The trend of increasing receivables turnover ratios over the past five years suggests that Celanese Corp has been improving its collection efficiency.

However, it is essential to note that receivables turnover should be analyzed in conjunction with other financial metrics to gain a comprehensive understanding of a company's financial health and operational efficiency.


Peer comparison

Dec 31, 2023

Company name
Symbol
Receivables turnover
Celanese Corporation
CE
5.38
Sealed Air Corporation
SEE
9.44