California Resources Corp (CRC)
Receivables turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2019 | Dec 31, 2018 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 2,801,000 | 2,707,000 | 1,889,000 | 2,634,000 | 3,064,000 |
| Receivables | US$ in thousands | 235,000 | 369,000 | 245,000 | 277,000 | 299,000 |
| Receivables turnover | 11.92 | 7.34 | 7.71 | 9.51 | 10.25 |
December 31, 2023 calculation
Receivables turnover = Revenue ÷ Receivables
= $2,801,000K ÷ $235,000K
= 11.92
The receivables turnover ratio for California Resources Corporation has shown an increasing trend over the three-year period, indicating the company's ability to efficiently collect payments from its customers. The ratio increased from 7.71 in 2021 to 8.30 in 2022, and further improved to 12.97 in 2023. This signifies that the company is collecting its accounts receivables at a faster pace each year, which is a positive indicator of its liquidity and operational efficiency. A higher receivables turnover ratio suggests that the company is managing its credit and collection policies effectively, resulting in a shorter average collection period. Overall, the upward trend in receivables turnover demonstrates an improvement in the company's working capital management and customer credit policies.
Peer comparison
Dec 31, 2023