Comstock Resources Inc (CRK)

Receivables turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	US$ in thousands	1,583,860	2,747,940	556,921	632,473	658,858
Receivables	US$ in thousands	239,742	510,127	267,738	139,615	149,981
Receivables turnover		6.61	5.39	2.08	4.53	4.39

December 31, 2023 calculation

Receivables turnover = Revenue ÷ Receivables
= $1,583,860K ÷ $239,742K
= 6.61

The receivables turnover ratio measures how efficiently a company is able to collect payments from its customers. A higher turnover ratio indicates that the company is collecting payments more quickly, which is generally favorable.

In the case of Comstock Resources, Inc., the receivables turnover has been relatively stable over the past five years, ranging from 4.06 to 6.96. The increasing trend from 4.06 in 2019 to 6.96 in 2022 suggests that the company has been improving its ability to collect payments from customers efficiently.

The slight decrease in 2023 to 6.6 may indicate that the company took longer to collect payments compared to the previous year, but it still remains at a relatively strong level. Overall, the trend in receivables turnover for Comstock Resources, Inc. demonstrates a positive efficiency in collecting receivables, which is beneficial for the company's cash flow and liquidity.