Civitas Resources Inc (CIVI)

Days of sales outstanding (DSO)

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Receivables turnover		6.51	5.35	15.44	16.17	10.99	10.29	6.16	4.08	2.55	5.52	4.48	6.08	6.58	8.29	9.91	18.16	7.12	7.09	8.01	6.56
DSO	days	56.03	68.22	23.64	22.57	33.21	35.48	59.26	89.44	143.24	66.13	81.39	60.05	55.47	44.02	36.83	20.10	51.27	51.48	45.54	55.61

December 31, 2023 calculation

DSO = 365 ÷ Receivables turnover
= 365 ÷ 6.51
= 56.03

Civitas Resources Inc's Days of Sales Outstanding (DSO) has shown some fluctuations over the past eight quarters. In Q4 2023, the DSO was 79.02 days compared to 86.64 days in Q3 2023, indicating a slight improvement in the collection of accounts receivable. However, this DSO figure is higher compared to Q4 2022, where it was 46.14 days.

The DSO was notably lower in Q2 and Q1 2023 at 35.11 days and 34.01 days, respectively, which suggests a more efficient accounts receivable collection process during these periods. This improvement in Q2 and Q1 2023 compared to the previous quarters could indicate stronger cash flow management and timely collection efforts by Civitas Resources Inc.

Looking back further, in Q3 and Q2 2022, the DSO figures were elevated at 45.98 days and 72.18 days, respectively. However, in Q1 2022, the DSO spiked to 105.36 days, indicating a significant lag in collecting outstanding receivables during that period.

Overall, Civitas Resources Inc's DSO has shown variability over time, with periods of more efficient collection efforts and others with delays in accounts receivable turnover. Monitoring this ratio over time can provide insights into the company's financial performance and effectiveness in managing its working capital.