Civitas Resources Inc (CIVI)

Receivables turnover

		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
Revenue (ttm)	US$ in thousands	3,296,241	3,066,349	3,106,445	3,597,935	3,775,144	3,476,852	2,665,287	1,674,922	923,213	476,935	347,546	228,560	215,005	232,434	248,784	298,938	311,230	297,776	323,327	310,341
Receivables	US$ in thousands	505,961	573,077	201,200	222,448	343,500	337,946	432,694	410,418	362,300	86,414	77,500	37,600	32,673	28,031	25,106	16,463	43,714	41,996	40,341	47,281
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

December 31, 2023 calculation

Receivables turnover = Revenue (ttm) ÷ Receivables
= $3,296,241K ÷ $505,961K
= 6.51

The receivables turnover ratio measures how efficiently Civitas Resources Inc is able to collect payments from its customers. A higher ratio indicates that the company is collecting receivables more quickly.

Looking at the data provided, we can see a fluctuation in the receivables turnover ratio over the past eight quarters. In Q2 and Q3 of 2023, the ratio was particularly high at 10.40 and 10.73, respectively, indicating that Civitas Resources Inc was efficiently collecting payments from its customers during those periods.

On the other hand, in Q1 of 2022, the receivables turnover ratio was only 3.46, which was the lowest among all the quarters in the dataset. This suggests that the company took longer to collect payments from customers during that period.

Overall, there seems to be variability in how efficiently Civitas Resources Inc is managing its accounts receivable over the past eight quarters. Further analysis would be needed to understand the underlying reasons for these fluctuations and to assess the effectiveness of the company's credit and collection policies.