Chesapeake Energy Corp (CHK)
Receivables turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 8,721,000 | 11,743,000 | 5,549,000 | 5,240,000 | 8,532,000 |
| Receivables | US$ in thousands | 593,000 | 1,438,000 | 1,115,000 | 746,000 | 990,000 |
| Receivables turnover | 14.71 | 8.17 | 4.98 | 7.02 | 8.62 |
December 31, 2023 calculation
Receivables turnover = Revenue ÷ Receivables
= $8,721,000K ÷ $593,000K
= 14.71
The receivables turnover ratio for Chesapeake Energy Corp has fluctuated over the past five years. In 2023, the company achieved a receivables turnover of 14.71, indicating that it collected its accounts receivable approximately 14.71 times throughout the year. This represents a significant improvement from the previous years, where the ratios were 8.17 in 2022, 4.98 in 2021, 7.02 in 2020, and 8.62 in 2019.
A higher receivables turnover ratio suggests that Chesapeake Energy Corp is collecting its accounts receivable more efficiently, converting credit sales into cash more quickly. This improvement in receivables turnover in 2023 may indicate a more effective credit management policy or a more efficient collection process. However, it's essential to assess other factors such as industry benchmarks and overall financial health to gain a more comprehensive understanding of the company's receivables management performance.
Peer comparison
Dec 31, 2023