CMS Energy Corporation (CMS)
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 | 7,462,000 | 7,790,000 | 8,141,000 | 8,506,000 | 8,596,000 | 8,351,000 | 8,052,000 | 7,690,000 | 7,329,000 | 7,023,000 | 6,805,000 | 6,629,000 | 6,418,000 | 6,486,000 | 6,525,000 | 6,588,000 | 6,845,000 | 6,879,000 | 6,932,000 | 6,979,000 |
| Receivables | US$ in thousands | 473,000 | 295,000 | 312,000 | 1,469,000 | 2,243,000 | 1,544,000 | 1,391,000 | 1,543,000 | 1,429,000 | 1,070,000 | 1,122,000 | 1,509,000 | 1,594,000 | 941,000 | 1,021,000 | 1,150,000 | 1,552,000 | 891,000 | 1,013,000 | 1,602,000 |
| Receivables turnover | 15.78 | 26.41 | 26.09 | 5.79 | 3.83 | 5.41 | 5.79 | 4.98 | 5.13 | 6.56 | 6.07 | 4.39 | 4.03 | 6.89 | 6.39 | 5.73 | 4.41 | 7.72 | 6.84 | 4.36 |
December 31, 2023 calculation
Receivables turnover = Revenue (ttm) ÷ Receivables
= $7,462,000K ÷ $473,000K
= 15.78
The receivables turnover for CMS Energy Corporation has been fluctuating over the past eight quarters. In Q3 2023, the company achieved its highest receivables turnover of 11.29, indicating that it collected its accounts receivable nearly 11.29 times during that period. This was a significant improvement from the previous quarter and was also higher compared to the same period in the previous year.
However, in Q4 2023, the receivables turnover decreased to 7.90, showing a decline in the efficiency of collecting accounts receivable compared to the previous quarter. Despite this decrease, the turnover was still higher than in Q4 2022, suggesting that the company has improved its collection efficiency over the year.
Overall, the trend indicates some variability in the receivables turnover for CMS Energy Corporation, but the company has shown improvements in collecting its accounts receivable more efficiently compared to the previous year. It will be essential for the company to monitor this ratio closely to ensure effective management of its accounts receivable going forward.
Peer comparison
Dec 31, 2023