DTE Energy Company (DTE)
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 | 12,745,000 | 13,827,000 | 16,190,000 | 18,430,000 | 19,228,000 | 19,399,000 | 17,863,000 | 16,168,000 | 15,369,000 | 14,010,000 | 13,579,000 | 12,933,000 | 12,177,000 | 12,037,000 | 11,872,000 | 12,177,000 | 12,669,000 | 13,271,000 | 13,702,000 | 13,973,000 |
| Receivables | US$ in thousands | 1,787,000 | 1,566,000 | 1,495,000 | 1,693,000 | 2,182,000 | 1,980,000 | 2,158,000 | 1,812,000 | 1,830,000 | 1,692,000 | 1,707,000 | 1,685,000 | 1,792,000 | 1,559,000 | 1,746,000 | 1,742,000 | 1,887,000 | 1,717,000 | 1,529,000 | 1,755,000 |
| Receivables turnover | 7.13 | 8.83 | 10.83 | 10.89 | 8.81 | 9.80 | 8.28 | 8.92 | 8.40 | 8.28 | 7.95 | 7.68 | 6.80 | 7.72 | 6.80 | 6.99 | 6.71 | 7.73 | 8.96 | 7.96 |
December 31, 2023 calculation
Receivables turnover = Revenue (ttm) ÷ Receivables
= $12,745,000K ÷ $1,787,000K
= 7.13
DTE Energy Co.'s receivables turnover has shown fluctuations over the past eight quarters. The highest receivables turnover ratio was observed in Q2 2023 at 10.83, indicating that the company collected its accounts receivables almost 11 times during that quarter. This was closely followed by Q1 2023 and Q2 2022, with ratios of 10.89 and 10.83, respectively.
However, the company experienced a decrease in receivables turnover in Q4 2023 to 7.13, indicating a slower rate of collection compared to previous quarters. Q4 2022 also had a lower turnover ratio of 8.81, which suggests a longer collection period for accounts receivables during that quarter.
Overall, DTE Energy Co. has demonstrated the ability to efficiently manage its accounts receivables, as evidenced by the generally consistent turnover ratios above 8 in most quarters. However, it is important for the company to monitor any declines in this ratio, as it could indicate potential issues with collecting outstanding payments from customers.
Peer comparison
Dec 31, 2023