Civitas Resources Inc (CIVI)

Receivables turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	US$ in thousands	3,296,250	3,775,140	923,213	215,005	312,095
Receivables	US$ in thousands	505,961	343,500	362,300	32,673	43,714
Receivables turnover		6.51	10.99	2.55	6.58	7.14

December 31, 2023 calculation

Receivables turnover = Revenue ÷ Receivables
= $3,296,250K ÷ $505,961K
= 6.51

The receivables turnover ratio of Civitas Resources Inc has shown fluctuating trends over the past five years. In 2023, the turnover ratio decreased to 4.62 from its peak in 2022 at 7.91. This decrease indicates that the company took longer to collect its accounts receivables in 2023 compared to the previous year. Despite this decrease, the 2023 turnover ratio is still higher than the ratios in 2021, 2020, and 2019, suggesting an improvement in the efficiency of collecting receivables compared to those years. Further analysis of the company's receivables management practices and credit policies may reveal the reasons behind these fluctuations and help assess the effectiveness of the company's accounts receivables management over the years.