Helix Energy Solutions Group Inc (HLX)
Receivables turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 1,289,730 | 873,100 | 674,728 | 733,555 | 751,909 |
| Receivables | US$ in thousands | 280,427 | 212,779 | 172,942 | 162,015 | 75,646 |
| Receivables turnover | 4.60 | 4.10 | 3.90 | 4.53 | 9.94 |
December 31, 2023 calculation
Receivables turnover = Revenue ÷ Receivables
= $1,289,730K ÷ $280,427K
= 4.60
The receivables turnover of Helix Energy Solutions Group Inc has shown a fluctuating trend over the past five years. In 2023, the receivables turnover ratio improved to 4.60 from 4.10 in 2022 and 3.88 in 2021. This indicates that the company collected its accounts receivable more efficiently in 2023 compared to the prior two years.
However, the 2023 ratio is still lower than the 2019 figure of 5.99, suggesting a potential slowdown in collecting receivables compared to four years ago.
Overall, a higher receivables turnover ratio signifies that the company is more effective in converting its accounts receivable into cash. The increase in 2023 compared to the previous two years is a positive sign, but the ratio remains below the 2019 level, indicating the need for continued focus on improving receivables collection efficiency.
Peer comparison
Dec 31, 2023