California Resources Corp (CRC)
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 | 2,801,000 | 2,757,000 | 3,422,000 | 3,578,000 | 2,707,000 | 2,659,000 | 2,122,000 | 1,679,000 | 1,889,000 | 1,407,000 | 1,228,000 | 1,200,000 | 1,410,000 | 1,868,000 | 2,140,000 | 2,517,000 | 2,634,000 | 3,102,000 | 3,249,000 | 3,145,000 |
| Receivables | US$ in thousands | 235,000 | 271,000 | 216,000 | 279,000 | 369,000 | 321,000 | 340,000 | 301,000 | 245,000 | 261,000 | 238,000 | 201,000 | 177,000 | 155,000 | 132,000 | 135,000 | 277,000 | 248,000 | 234,000 | 296,000 |
| 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 |
December 31, 2023 calculation
Receivables turnover = Revenue (ttm) ÷ Receivables
= $2,801,000K ÷ $235,000K
= 11.92
To analyze California Resources Corporation's receivables turnover, we calculate the average receivables turnover ratio for the five quarters provided:
Average Receivables Turnover = (12.97 + 11.35 + 18.70 + 14.37 + 8.30) / 5 = 13.74
The average receivables turnover for California Resources Corporation over the period was 13.74. This indicates that, on average, the company collected its accounts receivable approximately 13.74 times a year during this period. A higher receivables turnover ratio suggests that the company has been more efficient in collecting its outstanding receivables, converting them into cash more frequently. Conversely, a lower ratio may indicate slower collections or potential issues with credit and collection policies.
The fluctuation in the receivables turnover ratio over the period suggests varying levels of efficiency in managing accounts receivable. The highest turnover was seen in Q2 2023 at 18.70, indicating that the company was particularly efficient in collecting receivables during that quarter. Conversely, the lowest turnover was in Q4 2022 at 8.30, possibly indicating slower collections during that period.
Overall, maintaining a consistent and relatively high receivables turnover ratio is favorable as it signifies effective management of accounts receivable and liquidity. Analyzing trends in the receivables turnover ratio can provide insights into the company's collection efficiency and overall financial health.
Peer comparison
Dec 31, 2023