Cleveland-Cliffs Inc (CLF)
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 | 21,996,000 | 21,928,000 | 21,976,000 | 22,329,000 | 22,989,000 | 23,291,000 | 23,642,000 | 22,350,000 | 20,444,000 | 17,354,000 | 12,996,000 | 9,044,000 | 5,354,000 | 3,632,100 | 2,541,700 | 2,191,900 | 1,989,900 | 2,152,100 | 2,338,300 | 2,309,400 |
| Receivables | US$ in thousands | 1,840,000 | 2,122,000 | 2,290,000 | 2,216,000 | 1,960,000 | 2,301,000 | 2,571,000 | 2,667,000 | 2,157,000 | 2,348,000 | 2,062,000 | 1,659,000 | 1,193,000 | 662,700 | 544,800 | 622,500 | 152,600 | 223,600 | 251,800 | 137,400 |
| Receivables turnover | 11.95 | 10.33 | 9.60 | 10.08 | 11.73 | 10.12 | 9.20 | 8.38 | 9.48 | 7.39 | 6.30 | 5.45 | 4.49 | 5.48 | 4.67 | 3.52 | 13.04 | 9.62 | 9.29 | 16.81 |
December 31, 2023 calculation
Receivables turnover = Revenue (ttm) ÷ Receivables
= $21,996,000K ÷ $1,840,000K
= 11.95
The receivables turnover of Cleveland-Cliffs Inc has shown a fluctuating trend over the past eight quarters. The turnover ratio has ranged from a low of 8.38 in Q1 2022 to a high of 11.95 in Q4 2023. Overall, the company's ability to collect outstanding receivables has improved, as indicated by the increasing trend in the turnover ratio from Q1 2022 to Q4 2023.
A higher receivables turnover ratio signifies that the company is more efficient in collecting payments from its customers. In the context of Cleveland-Cliffs Inc, the upward trend in the receivables turnover ratio indicates that the company has been more successful in converting its accounts receivable into cash over time.
The fluctuation in the receivables turnover ratio may be influenced by various factors such as changes in credit policies, economic conditions, industry dynamics, and customer creditworthiness. It is essential for stakeholders to monitor this ratio to assess the company's effectiveness in managing its accounts receivable and cash flow.
Peer comparison
Dec 31, 2023