Civitas Resources Inc (CIVI)

Receivables turnover

		Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Revenue	US$ in thousands	5,204,240	3,296,250	3,775,140	923,213	215,005
Receivables	US$ in thousands	646,300	505,961	343,500	362,300	32,673
Receivables turnover		8.05	6.51	10.99	2.55	6.58

December 31, 2024 calculation

Receivables turnover = Revenue ÷ Receivables
= $5,204,240K ÷ $646,300K
= 8.05

Civitas Resources Inc's receivables turnover has fluctuated over the past five years, ranging from a low of 2.55 in December 31, 2021, to a high of 10.99 in December 31, 2022. A higher turnover ratio indicates that the company is collecting its accounts receivable more efficiently.

In 2020, the ratio was 6.58, suggesting that the company was collecting its receivables approximately 6.58 times during the year. The following year, the turnover decreased significantly to 2.55, indicating a delay in collecting receivables.

However, there was a notable improvement in 2022 with a turnover ratio of 10.99, implying a more efficient collection process. Subsequently, in 2023 and 2024, the turnover ratios were 6.51 and 8.05, respectively, showing a reasonable level of receivables turnover in those years.

Overall, the trend in Civitas Resources Inc's receivables turnover suggests fluctuation in the efficiency of collecting outstanding receivables over the five-year period. It is important for the company to monitor this ratio to ensure timely collection and efficient management of its receivables.