Chord Energy Corp (CHRD)
Receivables turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2019 | Dec 31, 2018 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 3,865,450 | 4,141,210 | 1,771,930 | 1,895,380 | 2,177,600 |
| Receivables | US$ in thousands | 943,114 | 781,738 | 377,202 | 371,181 | 387,602 |
| Receivables turnover | 4.10 | 5.30 | 4.70 | 5.11 | 5.62 |
December 31, 2023 calculation
Receivables turnover = Revenue ÷ Receivables
= $3,865,450K ÷ $943,114K
= 4.10
The receivables turnover ratio measures how efficiently a company is managing its accounts receivable, indicating how many times during a period the company collects its average accounts receivable balance.
In the case of Chord Energy Corp, the trend in the receivables turnover ratio over the past three years shows slight fluctuations. In 2021, the ratio was 4.19, which increased to 4.66 in 2022, reflecting a more efficient collection of receivables. However, by the end of 2023, the ratio had decreased to 4.13, indicating a slight dip in the efficiency of collecting receivables compared to the previous year.
Overall, the company has maintained a relatively stable receivables turnover ratio over the period, which suggests that Chord Energy Corp is managing its accounts receivable efficiently. However, further analysis and comparison with industry benchmarks may be necessary to determine the effectiveness of its credit and collection policies.
Peer comparison
Dec 31, 2023