Kinder Morgan Inc (KMI)
Receivables turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 15,334,000 | 19,200,000 | 16,610,000 | 11,700,000 | 13,209,000 |
| Receivables | US$ in thousands | 1,588,000 | 1,882,000 | 1,653,000 | 1,340,000 | 1,408,000 |
| Receivables turnover | 9.66 | 10.20 | 10.05 | 8.73 | 9.38 |
December 31, 2023 calculation
Receivables turnover = Revenue ÷ Receivables
= $15,334,000K ÷ $1,588,000K
= 9.66
The receivables turnover ratio for Kinder Morgan Inc has shown some fluctuation over the past five years. The ratio indicates the efficiency of the company in collecting outstanding receivables during each year. A higher ratio is generally preferred as it implies that the company is collecting its accounts receivable more frequently.
In 2023, the receivables turnover ratio was 9.66, showing a decrease from the previous year's ratio of 10.43 in 2022. This suggests that Kinder Morgan Inc took longer to collect its outstanding receivables in 2023 compared to 2022.
However, when compared to 2021 and 2020, the company's receivables turnover ratio in 2023 was still higher, indicating a relatively better performance in collecting receivables. The ratio in 2021 was 10.31, in 2020 it was 9.05, and in 2019 it was 9.64.
Overall, the trend in Kinder Morgan Inc's receivables turnover ratio suggests some variability in the efficiency of collecting outstanding receivables over the past five years, with 2022 showing the highest efficiency and 2020 the lowest. Further analysis of the company's receivables management practices and industry benchmarks may provide additional insights into its performance in this area.
Peer comparison
Dec 31, 2023