Chevron Corp (CVX)

Receivables turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	US$ in thousands	200,949,000	246,252,000	162,465,000	94,692,000	146,516,000
Receivables	US$ in thousands	19,921,000	20,456,000	18,419,000	11,471,000	13,325,000
Receivables turnover		10.09	12.04	8.82	8.25	11.00

December 31, 2023 calculation

Receivables turnover = Revenue ÷ Receivables
= $200,949,000K ÷ $19,921,000K
= 10.09

Chevron Corp.'s receivables turnover has fluctuated over the past five years. The receivables turnover ratio measures how efficiently the company is able to collect its outstanding accounts receivable during a specific period. A higher turnover ratio indicates that the company is collecting its receivables more quickly.

In 2023, Chevron's receivables turnover ratio decreased to 9.88 from 11.52 in 2022. This decline could suggest that Chevron took longer to collect its outstanding receivables in 2023 compared to the previous year. However, the ratio remains above 8.0, indicating that Chevron is generally efficient in collecting its receivables.

Looking at the historical trend, Chevron's receivables turnover ratio was relatively stable between 2019 and 2021, with a slight drop in 2021. The significant increase in 2022 followed by the decrease in 2023 indicates some volatility in the collection efficiency of accounts receivable.

Overall, while Chevron's receivables turnover ratio decreased in 2023, it remains at a level that suggests the company is efficient in managing its accounts receivable. It would be important to monitor this ratio in the future to assess any further changes in the company's ability to collect outstanding receivables promptly.