Coterra Energy Inc (CTRA)
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 | 14.71 | 13.36 | 13.29 | 15.70 | 14.16 | 23.72 | 26.38 | 25.60 | 22.15 | 34.48 | 22.92 | 25.21 | 26.97 | 12.16 | 9.73 | 9.59 | 12.47 | 9.74 | 9.15 | 9.48 |
| Receivables turnover | 5.84 | 8.89 | 12.48 | 11.81 | 6.38 | 5.57 | 3.87 | 4.01 | 3.08 | 4.94 | 7.47 | 7.69 | 6.64 | 5.01 | 5.89 | 6.20 | 9.89 | 14.58 | 13.29 | 10.68 |
| Payables turnover | 1.08 | 1.33 | 1.38 | 1.06 | 1.06 | 1.34 | 1.16 | 1.20 | 1.16 | 1.94 | 2.40 | 2.37 | 2.50 | 1.20 | 1.08 | 0.95 | 0.92 | 1.03 | 0.96 | 0.85 |
| Working capital turnover | 16.66 | 90.38 | 11.10 | 11.49 | 8.89 | 9.62 | 5.48 | 4.98 | 3.77 | — | 88.13 | 15.91 | 56.41 | — | 19.50 | 11.71 | 8.60 | 18.29 | 6.13 | 5.36 |
Coterra Energy Inc's activity ratios provide insight into how efficiently the company manages its resources.
- Inventory turnover: The company had a consistent inventory turnover ratio of 0.00 in Q1 to Q4 of 2023, indicating that it was not effectively managing its inventory levels during this period. Prior to this, there was a significant decline from Q2 2022 to Q4 2022, which may suggest inventory management challenges.
- Receivables turnover: Coterra Energy improved its receivables turnover significantly from Q1 to Q3 of 2023, indicating that it collected its accounts receivable more efficiently. However, there was a decline in Q4 2023 compared to the previous quarter. Overall, the company has shown improvement in collecting receivables compared to 2022.
- Payables turnover: The company had a consistent payables turnover ratio of 0.00 in Q1 to Q4 of 2023, which suggests that Coterra Energy did not effectively manage its payables during this period. This may have implications for cash flow and vendor relationships.
- Working capital turnover: Coterra Energy had varying working capital turnover ratios throughout 2022 and 2023, with a notable spike in Q3 2023. This indicates that the company generated revenue efficiently relative to its working capital. However, the substantial fluctuations in this ratio across quarters may point to inconsistencies in operational efficiency.
In summary, Coterra Energy Inc should focus on improving its inventory and payables management to enhance overall operational efficiency, while also sustaining the improvements seen in receivables turnover and working capital turnover. Consistent monitoring and addressing inefficiencies in these areas can lead to better cash flow management and overall performance.
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 | 24.81 | 27.32 | 27.46 | 23.25 | 25.78 | 15.39 | 13.84 | 14.26 | 16.48 | 10.59 | 15.93 | 14.48 | 13.53 | 30.02 | 37.51 | 38.06 | 29.26 | 37.49 | 39.89 | 38.51 |
| Days of sales outstanding (DSO) | days | 62.46 | 41.05 | 29.25 | 30.92 | 57.18 | 65.49 | 94.36 | 91.02 | 118.53 | 73.93 | 48.88 | 47.49 | 54.97 | 72.83 | 61.98 | 58.90 | 36.92 | 25.04 | 27.46 | 34.19 |
| Number of days of payables | days | 337.67 | 274.50 | 264.46 | 345.90 | 345.36 | 272.70 | 314.06 | 303.96 | 315.69 | 188.18 | 152.21 | 154.27 | 146.15 | 304.97 | 337.89 | 383.35 | 398.71 | 355.87 | 380.67 | 430.93 |
Days of Inventory on Hand (DOH) for Coterra Energy Inc has been fluctuating over the quarters, with no specific trend observed. The company had 208.05 days of inventory on hand in Q3 2022, which decreased to 138.36 days in Q2 2022 and further to 108.83 days in Q1 2022. However, in the most recent quarters, this ratio is not available. This indicates that the company has been managing its inventory levels more efficiently in the past, but the current situation is unknown.
Days of Sales Outstanding (DSO) has shown some variability over the quarters. The DSO decreased from 60.42 days in Q3 2022 to 52.83 days in Q4 2022, indicating faster collection of receivables. However, in the most recent quarters, there has been an increase in DSO, reaching 55.18 days in Q4 2023. This suggests that Coterra Energy Inc might be experiencing some challenges in collecting payments from customers promptly.
Number of Days of Payables for Coterra Energy Inc has also been fluctuating extensively. The company had 3,219.30 days of payables in Q3 2022, which decreased to 2,595.67 days in Q2 2022 and further to 1,786.41 days in Q1 2022. However, the information for the most recent quarters is not available, making it challenging to assess the current payables situation.
In conclusion, while Coterra Energy Inc has shown some improvements in managing its inventory and payables in the past, the recent unavailability of data for these activity ratios makes it difficult to provide a comprehensive analysis of the company's current 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 | 0.33 | 0.37 | 0.44 | 0.52 | 0.52 | 0.52 | 0.40 | 0.27 | 0.20 | 0.40 | 0.37 | 0.38 | 0.36 | 0.36 | 0.40 | 0.46 | 0.54 | 0.61 | 0.66 | 0.66 |
| Total asset turnover | 0.29 | 0.33 | 0.39 | 0.45 | 0.45 | 0.44 | 0.33 | 0.23 | 0.17 | 0.36 | 0.33 | 0.34 | 0.32 | 0.33 | 0.36 | 0.40 | 0.46 | 0.52 | 0.53 | 0.53 |
The analysis of Coterra Energy Inc's long-term activity ratios shows that the company's fixed asset turnover has been declining in recent quarters, from 0.52 in Q4 2022 to 0.33 in Q4 2023. This indicates that Coterra Energy is generating less revenue for each dollar of its fixed assets. A decreasing trend in fixed asset turnover could suggest inefficiencies in utilizing the company's fixed assets to generate sales.
On the other hand, the total asset turnover ratio has also been on a declining trend, from 0.45 in Q4 2022 to 0.29 in Q4 2023. This ratio measures how effectively Coterra Energy is generating sales relative to its total assets. A decreasing total asset turnover ratio may signal that the company is not efficiently using its total assets to generate revenue.
Overall, the decreasing trend in both the fixed asset turnover and total asset turnover ratios for Coterra Energy Inc indicates potential inefficiencies in asset utilization, which could negatively impact the company's long-term financial performance and profitability. Investors and stakeholders may need to further investigate the reasons behind these declining ratios to understand the company's operational efficiency and sustainability.