DTE Energy Company (DTE)
Receivables turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 12,745,000 | 19,228,000 | 14,964,000 | 12,177,000 | 12,669,000 |
| Receivables | US$ in thousands | 1,787,000 | 2,182,000 | 1,830,000 | 1,792,000 | 1,887,000 |
| Receivables turnover | 7.13 | 8.81 | 8.18 | 6.80 | 6.71 |
December 31, 2023 calculation
Receivables turnover = Revenue ÷ Receivables
= $12,745,000K ÷ $1,787,000K
= 7.13
The receivables turnover ratio for DTE Energy Co. has varied over the past five years, ranging from 6.71 to 8.81. The ratio measures how many times during a year a company collects its average accounts receivable balance. A higher turnover ratio indicates that the company is collecting its receivables more efficiently.
In 2023, the receivables turnover ratio decreased to 7.13 from 8.81 in the previous year. This suggests that DTE Energy Co. took longer to collect its accounts receivable compared to the prior year, which could potentially signal issues with its collection process or customer creditworthiness.
It's important to note that receivables turnover ratios can be influenced by various factors such as industry norms, company credit policies, and economic conditions. Thus, further analysis and comparison with industry benchmarks would provide a more comprehensive understanding of DTE Energy Co.'s receivables management performance.
Peer comparison
Dec 31, 2023