Civitas Resources Inc (CIVI)
Days of sales outstanding (DSO)
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Receivables turnover | 6.51 | 10.99 | 2.55 | 6.58 | 7.14 | |
| DSO | days | 56.03 | 33.21 | 143.24 | 55.47 | 51.12 |
December 31, 2023 calculation
DSO = 365 ÷ Receivables turnover
= 365 ÷ 6.51
= 56.03
Civitas Resources Inc's Days Sales Outstanding (DSO) has fluctuated over the past five years. In 2023, the DSO stands at 79.02 days, representing the number of days it takes for the company to collect its accounts receivable. Compared to the prior year, there has been an increase in DSO, indicating a potential slowdown in collecting payments from customers.
The sharp decrease in DSO in 2022 to 46.14 days suggests an improvement in the company's efficiency in collecting receivables compared to 2021 when the DSO was significantly higher at 168.12 days. However, the DSO in 2022 is still higher than the levels observed in 2019 and 2020.
The DSO of 79.36 days in 2020 was relatively consistent with the DSO of 79.02 days in 2023, indicating a similar collection efficiency in these two years.
It is important for Civitas Resources Inc to monitor and manage its DSO effectively to ensure timely collection of accounts receivable, which can impact the company's cash flow and overall financial performance.
Peer comparison
Dec 31, 2023