EOG Resources Inc (EOG)
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 | 24,186,000 | 24,548,000 | 25,929,000 | 27,763,000 | 25,702,000 | 25,027,000 | 22,199,000 | 18,931,000 | 18,642,000 | 15,563,500 | 13,044,500 | 10,008,500 | 11,032,500 | 12,387,250 | 14,444,710 | 18,039,340 | 17,379,980 | 17,634,270 | 18,112,430 | 17,652,880 |
| Receivables | US$ in thousands | 2,716,000 | 2,927,000 | 2,264,000 | 2,455,000 | 2,871,000 | 3,436,000 | 3,735,000 | 3,213,000 | 2,335,000 | 2,154,000 | 2,026,000 | 1,828,000 | 1,522,000 | 1,134,350 | 943,354 | 1,449,640 | 2,001,660 | 1,928,000 | 2,001,950 | 2,203,440 |
| Receivables turnover | 8.91 | 8.39 | 11.45 | 11.31 | 8.95 | 7.28 | 5.94 | 5.89 | 7.98 | 7.23 | 6.44 | 5.48 | 7.25 | 10.92 | 15.31 | 12.44 | 8.68 | 9.15 | 9.05 | 8.01 |
December 31, 2023 calculation
Receivables turnover = Revenue (ttm) ÷ Receivables
= $24,186,000K ÷ $2,716,000K
= 8.91
The receivables turnover of EOG Resources, Inc. has shown fluctuation over the past eight quarters. The turnover ratio measures how efficiently a company is collecting its accounts receivable. A higher turnover ratio generally indicates better efficiency in collecting payments from customers.
In Q1 2022, the receivables turnover was 6.64 and increased to 6.83 in Q2 2022. There was a further improvement in Q3 2022 to 8.11, indicating that the company was collecting its accounts receivable at a faster rate. The trend continued in Q4 2022 with a turnover of 8.93.
However, in Q1 2023, there was a slight decrease in the receivables turnover to 10.11, which was still relatively high. The turnover ratio then decreased further in Q2 2023 to 9.59 before dropping to 6.92 in Q3 2023. This decline could be a cause for concern as it may suggest a slowdown in collections or credit risks associated with customers.
In the latest quarter, Q4 2023, the receivables turnover improved to 8.87, showing some recovery from the decrease in the previous quarters. Overall, while the receivables turnover of EOG Resources, Inc. has fluctuated, it generally indicates efficient management of accounts receivable, although attention may be needed to address the recent decline in turnover.
Peer comparison
Dec 31, 2023