Comstock Resources Inc (CRK)

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	1,583,855	2,112,604	2,642,492	3,180,232	2,703,372	2,341,239	1,975,138	1,536,563	1,512,092	1,161,907	828,742	599,361	817,942	816,538	836,814	836,768	693,175	557,482	412,556	311,050
Receivables	US$ in thousands	239,742	214,804	193,917	243,543	510,127	606,580	463,506	232,955	267,738	233,902	168,139	139,851	139,615	98,757	97,453	110,518	149,981	126,141	79,547	96,221
Receivables turnover		6.61	9.84	13.63	13.06	5.30	3.86	4.26	6.60	5.65	4.97	4.93	4.29	5.86	8.27	8.59	7.57	4.62	4.42	5.19	3.23

December 31, 2023 calculation

Receivables turnover = Revenue (ttm) ÷ Receivables
= $1,583,855K ÷ $239,742K
= 6.61

The receivables turnover of Comstock Resources, Inc. has shown fluctuating trends over the past eight quarters. The company's receivables turnover ratio peaked at 15.13 in Q2 2023, indicating that the company collected its accounts receivables 15.13 times during that quarter. This suggests an efficient collection process, as the higher the ratio, the more effective the company is in collecting outstanding payments from customers.

However, the ratio decreased in the following quarter to 14.14 in Q1 2023, which may imply a slight slowdown in collections efficiency. It is worth noting that the ratio in Q3 2023 also saw a significant decrease to 9.88, indicating a further decline in the company's ability to collect outstanding receivables promptly compared to the previous quarter.

Comparing the current ratios to the same quarter in the previous year, there has been an improvement as the company's receivables turnover ratio is generally higher in the current year. This may suggest that the company has made efforts to enhance its collection processes over the past year.

Overall, despite some fluctuations, the company's receivables turnover ratios demonstrate its ability to efficiently manage its accounts receivables and collect payments from customers, with room for improvement in maintaining stability and consistency in its collection efficiency.