Civitas Resources Inc (CIVI)

Activity ratios

Short-term

Turnover ratios

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
Inventory turnover 6.52 34.55 2.68 84.34 30.38 17.27 21.37 31.22 30.79 11.23 9.19 10.94 17.65 14.15 15.71 16.79 8.13 6.26 15.72 24.86
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
Payables turnover 24.31 11.51 34.66 39.67 30.67 29.88 37.23 15.44 19.43 11.63 9.78 7.50 83.93 36.53 13.94 8.29 3.67 2.99 7.02 27.66
Working capital turnover 11.27 — 1.42 — 25.08 — — — — — — 21.51 12.00 12.69 5.66 4.36 53.87 19.31 67.00 16.22

Based on the provided data on Civitas Resources Inc's activity ratios:

1. Inventory Turnover: Unfortunately, there is not enough data available for Q1 2022 to Q4 2023 to calculate the inventory turnover ratio. However, based on the available information, it appears that the company might not have significant inventory holdings or that the efficiency of managing inventory may not be a focus area.

2. Receivables Turnover: The company's receivables turnover has shown some variability over the quarters, ranging from 3.46 to 10.73. Overall, the upward trend in the receivables turnover ratio indicates that Civitas Resources Inc has been collecting its accounts receivables more efficiently in recent quarters.

3. Payables Turnover: The payables turnover ratio is consistently at 0.00 across all quarters, indicating that the company may not have a significant focus on managing its accounts payable turnover or may have different payment terms with suppliers.

4. Working Capital Turnover: The working capital turnover ratio shows fluctuations in activity, with values ranging from 1.43 to 25.19. The high values suggest that Civitas Resources Inc has been effectively utilizing its working capital to generate sales, although the lack of data for some quarters limits a complete analysis of the trend.

In conclusion, while the company appears to be improving in its receivables turnover efficiency and utilizing working capital effectively, more information on inventory turnover and payables turnover would provide a more comprehensive understanding of Civitas Resources Inc's overall activity ratios.

Average number of days

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
Days of inventory on hand (DOH) days 55.99 10.56 135.99 4.33 12.02 21.14 17.08 11.69 11.85 32.51 39.71 33.37 20.68 25.79 23.24 21.74 44.87 58.31 23.23 14.68
Days of sales outstanding (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
Number of days of payables days 15.01 31.70 10.53 9.20 11.90 12.21 9.80 23.63 18.78 31.38 37.33 48.68 4.35 9.99 26.18 44.04 99.41 121.91 51.98 13.20

Days of inventory on hand (DOH) for Civitas Resources Inc are not available in the provided data.

Days of sales outstanding (DSO) have shown variability over the last eight quarters, ranging from 34.01 days to 105.36 days. Q2 2023 and Q1 2023 had the lowest DSO at 35.11 days and 34.01 days, indicating the company's ability to collect outstanding sales quickly. However, Q1 2022 had the highest DSO at 105.36 days, which could indicate potential issues with collections during that period.

The number of days of payables for Civitas Resources Inc is also not available in the provided data.

Overall, Civitas Resources Inc should continue to monitor and manage its DSO effectively to ensure efficient cash flow and working capital management.

Long-term

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
Fixed asset turnover 0.28 0.26 0.46 0.54 0.57 0.54 0.42 0.27 0.16 0.30 0.22 0.23 0.22 0.23 0.24 0.29 0.30 0.29 0.32 0.33
Total asset turnover 0.23 0.24 0.31 0.47 0.47 0.45 0.36 0.24 0.14 0.25 0.18 0.19 0.18 0.20 0.21 0.24 0.26 0.25 0.28 0.28

The fixed asset turnover ratio for Civitas Resources Inc has shown fluctuation over the past eight quarters, ranging from 0.27 to 0.57. In Q4 2023, the ratio was recorded at 0.29, indicating that for every dollar invested in fixed assets, the company generated $0.29 in revenue. This represents a slight increase from the previous quarter but remains relatively low compared to historical values.

On the other hand, the total asset turnover ratio has also varied, with values ranging from 0.24 to 0.48. In Q4 2023, the total asset turnover ratio was 0.25, demonstrating that the company generated $0.25 in revenue for every dollar of total assets. This ratio has remained relatively stable over the past few quarters.

Overall, the long-term activity ratios suggest that Civitas Resources Inc is efficient in generating sales relative to its fixed and total assets, but there may be room for improvement in maximizing the utilization of its fixed assets to generate revenue. Changes in these ratios over time can provide insights into the company's operational efficiency and asset management strategies.