LyondellBasell Industries NV (LYB)
Receivables turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 41,107,000 | 50,451,000 | 46,173,000 | 27,753,000 | 34,727,000 |
| Receivables | US$ in thousands | 476,000 | 4,081,000 | 5,212,000 | 4,489,000 | 3,455,000 |
| Receivables turnover | 86.36 | 12.36 | 8.86 | 6.18 | 10.05 |
December 31, 2023 calculation
Receivables turnover = Revenue ÷ Receivables
= $41,107,000K ÷ $476,000K
= 86.36
The receivables turnover ratio measures how efficiently a company is able to collect payments from its customers. A higher receivables turnover ratio indicates that the company is collecting payments more quickly.
Looking at the trend of LyondellBasell Industries NV's receivables turnover over the past five years, we can observe fluctuations in the ratio. In 2023, the receivables turnover ratio was 10.31, down from 12.36 in 2022. This decrease may suggest a slight reduction in the company's ability to collect payments efficiently compared to the previous year.
Comparing the 2023 ratio to the ratios in earlier years, we see a higher turnover in 2022 and 2019, with ratios of 12.36 and 10.05, respectively. On the other hand, 2023 showed an improvement in receivables turnover compared to 2020 and 2021, with ratios of 6.18 and 8.86, respectively.
Overall, while there has been some variability in the receivables turnover ratio for LyondellBasell Industries NV, the trend indicates a generally efficient collection process, with the company able to collect payments from customers at a moderate pace over the past five years.
Peer comparison
Dec 31, 2023