EOG Resources Inc (EOG)
Receivables turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 24,186,000 | 25,702,000 | 18,642,000 | 11,032,000 | 17,380,000 |
| Receivables | US$ in thousands | 2,716,000 | 2,871,000 | 2,335,000 | 1,522,000 | 2,001,660 |
| Receivables turnover | 8.91 | 8.95 | 7.98 | 7.25 | 8.68 |
December 31, 2023 calculation
Receivables turnover = Revenue ÷ Receivables
= $24,186,000K ÷ $2,716,000K
= 8.91
The receivables turnover ratio for EOG Resources, Inc. has shown a generally increasing trend over the past five years, indicating improvement in the company's ability to efficiently collect its receivables. The ratio increased from 8.01 in 2019 to 8.87 in 2023, with minor fluctuations in between.
This suggests that EOG Resources has been able to convert its accounts receivable into cash at a slightly faster rate over the years, reflecting effective credit management and timely collection efforts. A higher receivables turnover ratio is typically favorable as it implies that the company is collecting payments from its customers more quickly, which can positively impact cash flow and liquidity.
Overall, the consistent improvement in the receivables turnover ratio signals that EOG Resources, Inc. has been successful in managing its accounts receivable efficiently and effectively over the years.
Peer comparison
Dec 31, 2023