CNX Resources Corp (CNX)

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	3,434,953	4,103,016	3,869,571	3,450,289	2,987,605	2,641,965	3,151,913	3,143,144	2,802,921	2,138,434	1,577,500	1,314,692	1,257,978	1,136,022	1,599,944	2,056,135	1,918,207	1,845,120	1,708,346	1,496,904
Receivables	US$ in thousands	133,991	91,355	109,072	144,223	354,642	484,524	453,474	268,260	339,118	260,640	168,394	157,433	150,255	81,226	191,283	217,577	209,584	119,643	250,312	281,776
Receivables turnover		25.64	44.91	35.48	23.92	8.42	5.45	6.95	11.72	8.27	8.20	9.37	8.35	8.37	13.99	8.36	9.45	9.15	15.42	6.82	5.31

December 31, 2023 calculation

Receivables turnover = Revenue (ttm) ÷ Receivables
= $3,434,953K ÷ $133,991K
= 25.64

The receivables turnover of CNX Resources Corp has generally shown an increasing trend over the past eight quarters. In Q4 2023, the receivables turnover ratio was 25.64, indicating that the company collected its accounts receivable approximately 25.64 times during the quarter. This represents a significant improvement from the ratio of 10.18 in Q1 2022.

The increasing trend in the receivables turnover ratio suggests that CNX Resources Corp has been more effective in collecting its accounts receivable over time. A higher receivables turnover ratio typically indicates that the company is efficiently managing and collecting its outstanding receivables, which is a positive sign for the company's liquidity and cash flow.

Overall, the trend in the receivables turnover ratio reflects positively on CNX Resources Corp's ability to efficiently manage its receivables and convert them into cash, which is essential for maintaining a healthy financial position.