Coterra Energy Inc (CTRA)
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 | 5,914,000 | 6,598,000 | 7,762,000 | 9,149,000 | 9,051,000 | 8,996,000 | 6,916,000 | 4,668,000 | 3,449,000 | 1,680,778 | 1,531,819 | 1,540,167 | 1,466,624 | 1,471,214 | 1,609,284 | 1,811,053 | 2,066,277 | 2,321,210 | 2,437,272 | 2,356,602 |
| Receivables | US$ in thousands | 1,012,000 | 742,000 | 622,000 | 775,000 | 1,418,000 | 1,614,000 | 1,788,000 | 1,164,000 | 1,120,000 | 340,437 | 205,124 | 200,402 | 220,895 | 293,553 | 273,261 | 292,248 | 209,023 | 159,239 | 183,376 | 220,732 |
| 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 |
December 31, 2023 calculation
Receivables turnover = Revenue (ttm) ÷ Receivables
= $5,914,000K ÷ $1,012,000K
= 5.84
Coterra Energy Inc's receivables turnover ratio fluctuated over the past eight quarters, ranging from 4.08 to 12.48. Receivables turnover measures how efficiently a company is able to collect payments from its customers. The higher the ratio, the more quickly the company is collecting outstanding receivables.
In Q4 2023, the receivables turnover was 6.62, down from the previous quarter's 8.89. Although the ratio decreased, it remained relatively strong, indicating that Coterra Energy Inc was still efficient in collecting payments from its customers.
Looking further back, there was a significant increase in receivables turnover in Q2 2023, reaching 12.48, which could suggest better management of receivables during that period. However, the ratio decreased in the following quarter but remained above average.
Comparing the recent performance to the same quarter in the previous year, there has been an improvement in receivables turnover as Q4 2023's ratio of 6.62 was higher than Q4 2022's ratio of 6.91. This indicates that Coterra Energy Inc has become more effective in collecting payments from customers over this one-year period.
Overall, the trend in Coterra Energy Inc's receivables turnover suggests that the company has been managing its accounts receivables efficiently, with some fluctuations but maintaining a relatively healthy ratio that indicates effective collection practices.
Peer comparison
Dec 31, 2023