California Water Service Group (CWT)

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	747,613	735,174	747,860	761,503	804,187	797,818	769,379	775,750	750,020	819,771	805,304	766,295	755,324	656,603	650,604	644,504	626,578	622,617	615,748	621,513
Receivables	US$ in thousands	112,779	145,505	124,813	96,661	109,151	145,152	127,003	103,294	111,997	142,384	124,660	93,067	98,425	114,700	99,291	78,306	119,349	105,163	93,895	71,687
Receivables turnover		6.63	5.05	5.99	7.88	7.37	5.50	6.06	7.51	6.70	5.76	6.46	8.23	7.67	5.72	6.55	8.23	5.25	5.92	6.56	8.67

December 31, 2023 calculation

Receivables turnover = Revenue (ttm) ÷ Receivables
= $747,613K ÷ $112,779K
= 6.63

California Water Service Group's receivables turnover has shown some fluctuations over the past 8 quarters. The turnover ratio measures how efficiently the company is collecting payments from its customers.

In Q4 2023, the receivables turnover ratio was 4.49, indicating that the company collected its outstanding receivables approximately 4.49 times during the quarter. This represents an improvement from the previous quarter (Q3 2023) where the ratio was 3.92.

Looking further back, the company's receivables turnover ratio has been relatively stable, ranging between 4.24 and 5.47 over the last 8 quarters. This suggests that California Water Service Group has been effectively managing its accounts receivable and collecting payments from its customers in a timely manner.

Overall, a higher receivables turnover ratio is typically seen as positive, as it indicates that the company is efficiently managing its credit policies and collecting payments promptly. However, it's important to consider industry norms and benchmarks to fully assess the efficiency of California Water Service Group's receivables management.