CVR Energy Inc (CVI)
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 | 9,246,000 | 9,724,000 | 9,901,000 | 10,809,000 | 10,896,000 | 10,329,000 | 9,513,000 | 8,152,000 | 7,242,000 | 6,248,000 | 5,370,000 | 4,262,000 | 3,929,000 | 4,379,000 | 4,996,000 | 6,008,000 | 6,364,000 | 6,533,000 | 6,846,000 | 7,074,000 |
| Receivables | US$ in thousands | 286,000 | 316,000 | 300,000 | 330,000 | 380,000 | 320,000 | 418,000 | 353,000 | 325,000 | 240,000 | 234,000 | 226,000 | 222,000 | 133,000 | 148,000 | 152,000 | 182,000 | 181,000 | 168,000 | 197,000 |
| Receivables turnover | 32.33 | 30.77 | 33.00 | 32.75 | 28.67 | 32.28 | 22.76 | 23.09 | 22.28 | 26.03 | 22.95 | 18.86 | 17.70 | 32.92 | 33.76 | 39.53 | 34.97 | 36.09 | 40.75 | 35.91 |
December 31, 2023 calculation
Receivables turnover = Revenue (ttm) ÷ Receivables
= $9,246,000K ÷ $286,000K
= 32.33
The receivables turnover of CVR Energy Inc has shown consistent and high values in recent quarters, ranging from 30.44 to 33.00. This indicates that the company is efficient in collecting payments from its customers and converting its accounts receivable into cash. The higher the receivables turnover ratio, the more quickly a company is able to collect its outstanding receivables.
The significant increase in receivables turnover from Q2 2022 to Q3 2022, followed by relatively stable values in subsequent quarters, suggests improved efficiency in collecting receivables during that period. Moreover, the high values of receivables turnover in Q4 2023 and Q2 2023 indicate that the company has maintained a strong ability to collect payments from customers promptly.
Overall, the consistent and high receivables turnover of CVR Energy Inc reflects positively on its credit policies, collection procedures, and overall financial health. It demonstrates the company's effectiveness in managing its accounts receivable and maintaining liquidity through timely collection of outstanding balances.
Peer comparison
Dec 31, 2023