Cleveland-Cliffs Inc (CLF)
Receivables turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 21,996,000 | 22,989,000 | 20,444,000 | 5,354,000 | 1,990,000 |
| Receivables | US$ in thousands | 1,840,000 | 1,960,000 | 2,157,000 | 1,193,000 | 152,600 |
| Receivables turnover | 11.95 | 11.73 | 9.48 | 4.49 | 13.04 |
December 31, 2023 calculation
Receivables turnover = Revenue ÷ Receivables
= $21,996,000K ÷ $1,840,000K
= 11.95
The receivables turnover of Cleveland-Cliffs Inc has experienced fluctuations over the past five years. The ratio indicates the number of times a company collects its accounts receivable balance during a specific period.
In 2019, the receivables turnover was relatively high at 13.04, suggesting efficient collections of accounts receivable. However, in 2020, there was a significant decrease to 4.49, indicating a slower collection of receivables during that year.
Subsequently, in 2021, the receivables turnover improved to 9.49, showing a recovery in the collection process. This trend continued into 2022 with a slight increase to 11.73, indicating further enhancement in the efficiency of collecting accounts receivable.
By the end of 2023, the receivables turnover reached 11.95, indicating a continuing trend of effectively collecting accounts receivable during that year.
Overall, the receivables turnover of Cleveland-Cliffs Inc has shown variability over the years, with signs of improvement in the efficiency of collecting accounts receivable in the more recent years compared to the fluctuations seen earlier in the period.
Peer comparison
Dec 31, 2023