Chevron Corp (CVX)

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	200,949,000	210,242,000	222,806,000	242,672,000	246,252,000	237,908,000	215,974,000	184,809,000	162,465,000	139,582,000	119,323,000	95,220,000	94,692,000	105,796,000	117,461,000	142,817,000	146,516,000	152,518,000	160,389,000	163,775,000
Receivables	US$ in thousands	19,921,000	21,993,000	19,285,000	19,021,000	20,456,000	22,466,000	26,860,000	23,255,000	18,419,000	16,567,000	15,705,000	14,118,000	11,471,000	9,722,000	8,570,000	10,167,000	13,325,000	12,966,000	14,383,000	14,928,000
Receivables turnover		10.09	9.56	11.55	12.76	12.04	10.59	8.04	7.95	8.82	8.43	7.60	6.74	8.25	10.88	13.71	14.05	11.00	11.76	11.15	10.97

December 31, 2023 calculation

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

The receivables turnover ratio for Chevron Corp. shows a fluctuating trend over the past 8 quarters. In Q1 2022, the ratio was 7.60 and increased to 7.67 in Q2 2022. Subsequently, there was a significant improvement in the ratio in the following quarters, reaching a peak of 12.21 in Q1 2023. However, starting from Q2 2023, the ratio declined to 11.10 and further dropped to 9.21 in Q3 2023. In the most recent quarter, Q4 2023, the receivables turnover ratio was 9.88.

Overall, the receivables turnover has shown some variability but has generally remained above 7.60, indicating that, on average, Chevron Corp. collects its accounts receivable approximately 8 to 12 times a year. This suggests that the company has been effective in managing its accounts receivable and converting them into cash, although there have been fluctuations in the efficiency of this process over the analyzed period.