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