CNX Resources Corp (CNX)
Receivables turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 3,434,950 | 1,261,210 | 756,792 | 1,257,980 | 1,922,450 |
| Receivables | US$ in thousands | 133,991 | 354,642 | 339,118 | 150,255 | 209,584 |
| Receivables turnover | 25.64 | 3.56 | 2.23 | 8.37 | 9.17 |
December 31, 2023 calculation
Receivables turnover = Revenue ÷ Receivables
= $3,434,950K ÷ $133,991K
= 25.64
The receivables turnover of CNX Resources Corp has shown an increasing trend over the past five years, with values of 7.38 in 2019, 7.22 in 2020, 7.05 in 2021, 11.07 in 2022, and 25.64 in 2023. This indicates that the company is collecting its accounts receivable more efficiently each year.
A higher receivables turnover ratio suggests that CNX Resources Corp is able to collect outstanding customer payments more quickly, which is a favorable indicator of its liquidity and operational efficiency. The significant increase in the turnover ratio from 2022 to 2023 is particularly noteworthy, signaling an improvement in the company's receivables management.
Overall, the trend of increasing receivables turnover indicates that CNX Resources Corp has been successfully managing its accounts receivable and converting them into cash at a faster pace, which is a positive signal for the company's financial health and operational performance.
Peer comparison
Dec 31, 2023