Helix Energy Solutions Group Inc (HLX)

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	1,289,728	1,242,387	1,119,264	973,059	873,100	753,940	662,109	661,438	674,728	665,969	678,743	715,949	733,555	744,407	763,526	766,107	751,909	739,516	739,482	742,379
Receivables	US$ in thousands	280,427	308,023	255,329	218,039	212,779	258,095	183,366	171,300	172,942	164,888	153,087	162,366	162,015	187,014	194,482	164,102	75,646	104,707	105,916	128,072
Receivables turnover		4.60	4.03	4.38	4.46	4.10	2.92	3.61	3.86	3.90	4.04	4.43	4.41	4.53	3.98	3.93	4.67	9.94	7.06	6.98	5.80

December 31, 2023 calculation

Receivables turnover = Revenue (ttm) ÷ Receivables
= $1,289,728K ÷ $280,427K
= 4.60

The receivables turnover ratio for Helix Energy Solutions Group Inc has shown a fluctuating trend over the past eight quarters. In Q4 2023, the receivables turnover ratio increased to 4.60, indicating that the company collected its accounts receivable approximately 4.60 times during the period. This improvement follows a general upward trend in the recent quarters. The ratio was relatively stable around 4.10 to 4.46 in the four quarters prior to Q4 2023, reflecting consistent collection efficiency.

Comparing the current performance to the same period last year, there has been a significant improvement in receivables turnover. In Q4 2023, the ratio stood at 4.60 compared to 4.10 in Q4 2022, showing an increase in the efficiency of collecting outstanding receivables. This positive trend indicates that the company is effectively managing its accounts receivables and converting them into cash more rapidly than in the previous year.

Overall, the increasing trend in receivables turnover for Helix Energy Solutions Group Inc suggests a more efficient management of accounts receivable and a potentially healthier cash flow position. It indicates that the company is collecting outstanding receivables at a faster pace, which can help improve liquidity and working capital management.