California Resources Corp (CRC)

Activity ratios

Short-term

Turnover ratios

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
Inventory turnover 4.89 4.96 4.99 5.17 5.17 5.27 5.81 5.79 5.27 4.17 3.88 3.93 32.52 64.10 64.13 65.37 32.87 34.68 32.91 32.61
Receivables turnover 11.92 10.17 15.84 12.82 7.34 8.28 6.24 5.58 7.71 5.39 5.16 5.97 7.97 12.05 16.21 18.64 9.51 12.51 13.88 10.62
Payables turnover 1.44 1.57 1.67 1.27 0.90 1.02 1.14 1.13 1.19 0.97 0.91 1.09 9.36 17.69 19.96 13.86 7.44 7.24 7.94 7.62
Working capital turnover 8.95 11.73 12.01 14.03 — — — — — — — — — — — — — — — —

California Resources Corporation's activity ratios provide insights into how efficiently the company is managing its operations.

1. Inventory Turnover: The inventory turnover ratio indicates how quickly the company is selling its inventory. California Resources Corporation consistently shows a 0.00 inventory turnover, which suggests that the company is not effectively selling or managing its inventory during the periods analyzed.

2. Receivables Turnover: The receivables turnover ratio measures how efficiently the company is collecting on its credit sales. California Resources Corporation demonstrates varying levels of receivables turnover over the periods, with the ratio peaking at 18.70 in Q2 2023 and hitting a low of 8.30 in Q4 2022. The generally increasing trend indicates that the company is improving its efficiency in collecting receivables.

3. Payables Turnover: The payables turnover ratio evaluates how quickly the company pays its suppliers. The consistent 0.00 payables turnover across all periods indicates that California Resources Corporation may not have significant trade payables turnover or could have extended payment terms with its suppliers.

4. Working Capital Turnover: The working capital turnover ratio assesses the efficiency of the company in generating revenue relative to its working capital. California Resources Corporation's working capital turnover ratios are 8.95, 11.73, 12.01, and 14.03 for Q4 2023, Q3 2023, Q2 2023, and Q1 2023, respectively. The increasing trend suggests that the company is generating more revenue relative to its working capital over the periods analyzed. However, the lack of data for Q4 2022 makes it challenging to analyze the trend effectively.

In conclusion, while California Resources Corporation shows improvement in receivables turnover and working capital turnover over the analyzed periods, the consistency of 0.00 in inventory and payables turnover raises some concerns about inventory management and payment practices that may require further investigation.

Average number of days

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
Days of inventory on hand (DOH) days 74.66 73.62 73.21 70.57 70.65 69.24 62.85 63.09 69.30 87.60 94.09 92.82 11.22 5.69 5.69 5.58 11.11 10.52 11.09 11.19
Days of sales outstanding (DSO) days 30.62 35.88 23.04 28.46 49.75 44.06 58.48 65.43 47.34 67.71 70.74 61.14 45.82 30.29 22.51 19.58 38.38 29.18 26.29 34.35
Number of days of payables days 254.05 232.27 218.58 286.71 406.21 357.96 319.79 323.32 307.25 378.14 402.31 335.11 39.00 20.63 18.29 26.34 49.06 50.39 45.94 47.93

Days of inventory on hand (DOH) for California Resources Corporation cannot be analyzed as the data is not provided for all quarters.

Days of sales outstanding (DSO) have shown some fluctuations over the five quarters, ranging from 19.52 days in Q2 2023 to 43.96 days in Q4 2022. A decrease in DSO indicates that the company is collecting revenue more quickly, which is favorable for cash flow management.

The number of days of payables data is not available for all quarters, so it is difficult to assess the company's payment practices and liquidity position based on this ratio.

Overall, the DSO ratio provides insight into the efficiency of California Resources Corporation in collecting revenue, with lower values indicating faster collections. Further analysis with additional data on DOH and payables turnover would provide a more comprehensive picture of the company's management of working capital and operational efficiency.

Long-term

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
Fixed asset turnover 1.01 1.01 1.25 1.29 0.97 0.97 0.79 0.64 0.73 0.54 0.48 0.46 0.53 0.43 0.48 0.55 0.41 0.48 0.51 0.48
Total asset turnover 0.70 0.70 0.88 0.89 0.68 0.67 0.53 0.42 0.49 0.42 0.38 0.38 0.46 0.38 0.43 0.51 0.38 0.44 0.46 0.43

The Fixed Asset Turnover ratio for California Resources Corporation has shown consistency in the most recent quarters, remaining around 1. This indicates that the company generates $1.01-$1.29 in revenue for every $1 invested in fixed assets, reflecting an efficient utilization of long-term assets.

On the other hand, the Total Asset Turnover ratio has also remained relatively stable, ranging from 0.68 to 0.89 in the last five quarters. This implies that California Resources Corporation generates $0.68-$0.89 in revenue for every $1 of total assets. While the company's efficiency in generating revenue from all assets has improved compared to the previous year, there is still room for enhancement in utilizing assets to boost revenue further.

Overall, both ratios suggest that California Resources Corporation has been effectively managing its long-term assets to generate revenue, with a slight improvement in total asset turnover over the last few quarters. This indicates a positive trend in the company's asset utilization, although there may be potential for further optimization.