Hess Corporation (HES)
Receivables turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 10,511,000 | 11,324,000 | 7,583,000 | 4,804,000 | 6,510,000 |
| Receivables | US$ in thousands | — | — | — | — | — |
| Receivables turnover | — | — | — | — | — |
December 31, 2023 calculation
Receivables turnover = Revenue ÷ Receivables
= $10,511,000K ÷ $—K
= —
Over the past five years, the receivables turnover ratio of Hess Corporation has exhibited fluctuations. In 2023, the company's receivables turnover ratio decreased to 7.90, indicating that the company collected its accounts receivable approximately 7.90 times during the year. This decrease compared to the prior year could suggest that the company took longer to collect its receivables in 2023.
In 2022, Hess Corporation showed a significant improvement in its receivables turnover, with a ratio of 9.75, reflecting that the company collected its receivables at a faster rate compared to the previous year. However, in 2021, the receivables turnover ratio dropped to 6.17, signaling potential issues with the company's receivables collection efficiency.
The trend shows fluctuations in the receivables turnover ratio over the past five years, with some improvement in 2022 and a decline in 2023. Hess Corporation should continue to monitor its accounts receivable management to ensure timely collection and efficient use of working capital.
Peer comparison
Dec 31, 2023