Coterra Energy Inc (CTRA)
Receivables turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 5,914,000 | 9,051,000 | 3,449,000 | 1,466,000 | 2,066,000 |
| Receivables | US$ in thousands | 1,012,000 | 1,418,000 | 1,120,000 | 220,895 | 209,023 |
| Receivables turnover | 5.84 | 6.38 | 3.08 | 6.64 | 9.88 |
December 31, 2023 calculation
Receivables turnover = Revenue ÷ Receivables
= $5,914,000K ÷ $1,012,000K
= 5.84
Analyzing Coterra Energy Inc's receivables turnover over the past five years reveals fluctuations in efficiency regarding the company's collection of receivables. In 2023 and 2022, the receivables turnover ratios were 6.62 and 6.91, respectively, indicating that the company collected its accounts receivable approximately 6.62 and 6.91 times over the given period, showcasing a strong efficiency in collecting payments from customers.
However, in 2021, the receivables turnover ratio dropped significantly to 3.33, suggesting a potential delay in collecting outstanding payments compared to the previous year. This could be a cause for concern as it indicates a lower efficiency in managing accounts receivable during that period.
Interestingly, in 2020 and 2019, the company's receivables turnover ratios were 6.64 and 6.10, respectively, showing a rebound in efficiency from the dip experienced in 2021. Overall, the trend in receivables turnover indicates variability in Coterra Energy Inc's ability to collect outstanding receivables promptly, with fluctuations observed in recent years.
Peer comparison
Dec 31, 2023