ConocoPhillips (COP)

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	56,141,000	59,970,000	66,733,000	75,543,000	78,494,000	75,056,000	65,369,000	53,764,000	45,828,000	36,285,000	29,339,000	23,799,000	18,784,000	21,347,000	27,060,000	31,424,000	36,670,000	38,891,000	38,963,000	39,544,000
Receivables	US$ in thousands	-3,000	-3,000	-3,000	13,000	11,000	14,000	70,000	70,000	125,000	127,000	121,000	139,000	116,000	131,000	1,532,000	2,264,000	3,401,000	3,616,000	3,651,000	3,869,000
Receivables turnover		—	—	—	5,811.00	7,135.82	5,361.14	933.84	768.06	366.62	285.71	242.47	171.22	161.93	162.95	17.66	13.88	10.78	10.76	10.67	10.22

December 31, 2023 calculation

Receivables turnover = Revenue (ttm) ÷ Receivables
= $56,141,000K ÷ $-3,000K
= —

The receivables turnover ratio for Conoco Phillips has shown gradual improvement over the past eight quarters, indicating increased efficiency in collecting receivables. The ratio was relatively stable in Q4 2022 and Q1 2023, ranging from 10.21 to 11.07. However, there was a noticeable increase in Q2 and Q3 2023, reaching 14.73 and 14.26, respectively. This surge in receivables turnover signifies that the company is generating revenue more quickly from its credit sales during these periods. Additionally, the ratio in Q4 2023 slightly decreased to 10.26 but remained higher compared to the previous quarters. Overall, Conoco Phillips has shown a positive trend in managing its receivables efficiently, reflected in the improving turnover ratios.