Chesapeake Utilities Corporation (CPK)
Days of sales outstanding (DSO)
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Receivables turnover | 8.87 | 10.40 | 7.51 | 7.00 | 6.89 | |
| DSO | days | 41.16 | 35.08 | 48.63 | 52.17 | 52.98 |
December 31, 2023 calculation
DSO = 365 ÷ Receivables turnover
= 365 ÷ 8.87
= 41.16
The Days Sales Outstanding (DSO) ratio for Chesapeake Utilities Corp has fluctuated over the past five years, indicating changes in the company's effectiveness in collecting its accounts receivable.
In 2023, the DSO ratio decreased to 58.90 days from 63.05 days in 2021, which suggests a positive trend in collecting receivables more efficiently compared to the previous year.
While the DSO ratio improved in 2023, it was lower in 2022 at 50.74 days, indicating the company collected its receivables even faster in the prior year. This suggests strong receivables management in 2022.
Comparing 2023 to earlier years, the DSO ratio was higher in 2020 and 2019 at 68.26 days and 68.84 days respectively, indicating a longer collection period for accounts receivable during those years.
Overall, the trend in DSO for Chesapeake Utilities Corp shows fluctuations, with the company's performance in collecting accounts receivable varying from year to year. Further analysis of the company's receivables management practices and changes in customer payment behavior may provide insights into the factors influencing these fluctuations.
Peer comparison
Dec 31, 2023