CVR Energy Inc (CVI)

Receivables turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	US$ in thousands	9,247,000	10,896,000	7,242,000	3,930,000	6,364,000
Receivables	US$ in thousands	286,000	380,000	325,000	222,000	182,000
Receivables turnover		32.33	28.67	22.28	17.70	34.97

December 31, 2023 calculation

Receivables turnover = Revenue ÷ Receivables
= $9,247,000K ÷ $286,000K
= 32.33

The receivables turnover ratio for CVR Energy Inc has shown fluctuations over the past five years. The ratio indicates how efficiently the company is able to collect outstanding receivables from customers during a specific period.

In 2023, the receivables turnover ratio improved to 32.33 times, reflecting a substantial increase compared to the previous year. This signifies that CVR Energy Inc collected its accounts receivable 32.33 times on average during the year. The higher ratio suggests an enhancement in the efficiency of the company's credit and collection process.

Comparing to 2022, where the receivables turnover was 30.44 times, there was a slight improvement in 2023. This indicates that the company was able to collect its outstanding receivables at a slightly faster pace during the year.

In 2021, the receivables turnover ratio was 24.22 times, which was a noticeable increase compared to the previous year. This improvement suggests that CVR Energy Inc enhanced its efficiency in collecting outstanding receivables during that period.

Similarly, in 2020 and 2019, the company had receivables turnover ratios of 22.08 times and 34.97 times respectively. The decrease in 2020 and subsequent increase in 2019 could indicate fluctuations in the company's collection process efficiency over those years.

Overall, the trend in the receivables turnover ratio for CVR Energy Inc shows variations but generally reflects an improvement in the efficiency of collecting outstanding receivables from customers over the analyzed period.