Helmerich and Payne Inc (HP)
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 | 2,829,931 | 2,872,421 | 2,844,147 | 2,670,424 | 2,368,799 | 2,058,944 | 1,771,419 | 1,553,399 | 1,381,973 | 1,218,568 | 1,083,028 | 1,068,179 | 1,405,647 | 1,773,927 | 2,214,710 | 2,585,320 | 2,672,549 | 2,798,490 | 2,846,265 | 2,807,163 |
| Receivables | US$ in thousands | 435,819 | 404,188 | 449,588 | 525,611 | 512,681 | 458,713 | 397,880 | 329,572 | 282,381 | 228,894 | 233,632 | 209,402 | 233,623 | 192,623 | 302,194 | 531,556 | 500,947 | 495,602 | 508,183 | 552,737 |
| Receivables turnover | 6.49 | 7.11 | 6.33 | 5.08 | 4.62 | 4.49 | 4.45 | 4.71 | 4.89 | 5.32 | 4.64 | 5.10 | 6.02 | 9.21 | 7.33 | 4.86 | 5.33 | 5.65 | 5.60 | 5.08 |
December 31, 2023 calculation
Receivables turnover = Revenue (ttm) ÷ Receivables
= $2,829,931K ÷ $435,819K
= 6.49
The receivables turnover of Helmerich & Payne, Inc. has shown fluctuation over the past eight quarters. The ratio indicates the efficiency of the company's credit policies and its ability to collect outstanding receivables.
The receivables turnover ratio was 6.49 at the end of December 2023, which was a decrease from the previous quarter's ratio of 7.11. This suggests that the company took longer to collect its receivables in the most recent quarter. However, the current ratio is still higher than the ratios reported in the first two quarters of 2023, indicating an improvement from that period.
Comparing the most recent ratio to the same period in the prior year, there has been an overall improvement, as the ratio at the end of December 2023 was higher than the 4.62 reported at the end of December 2022. This suggests that the company has been more efficient in collecting its receivables over the past year.
Overall, the trend in the receivables turnover ratio indicates that Helmerich & Payne, Inc. has been relatively successful in managing its accounts receivable, although there was a recent decrease in the efficiency of collection. Further analysis of the reasons behind this change would provide a more comprehensive understanding of the company's financial performance.
Peer comparison
Dec 31, 2023