Marathon Petroleum Corp (MPC)
Receivables turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 148,082,000 | 176,526,000 | 119,456,000 | 68,692,000 | 123,949,000 |
| Receivables | US$ in thousands | 11,619,000 | 13,477,000 | 11,034,000 | 5,760,000 | 7,872,000 |
| Receivables turnover | 12.74 | 13.10 | 10.83 | 11.93 | 15.75 |
December 31, 2023 calculation
Receivables turnover = Revenue ÷ Receivables
= $148,082,000K ÷ $11,619,000K
= 12.74
The receivables turnover ratio for Marathon Petroleum Corp has fluctuated over the past five years. The ratio measures how efficiently the company is collecting cash from its credit sales within a given period. A higher turnover ratio indicates that the company is collecting its receivables more quickly.
In 2023, the receivables turnover ratio was 12.85, which was slightly lower compared to 2022 when it was at 13.23. This decrease suggests that the company took slightly longer to collect cash from its credit sales in 2023.
Looking further back, in 2021, the ratio was 10.92, showing a decrease in collection efficiency compared to 2020 when it was 12.13. The most efficient year for receivables turnover in the past five years was 2019, with a ratio of 15.77, indicating that the company was collecting its receivables at a faster pace.
Overall, while there have been fluctuations in receivables turnover, Marathon Petroleum Corp has generally maintained a reasonable level of efficiency in collecting cash from credit sales over the years, with room for potential improvements and optimizations in its receivables management processes.
Peer comparison
Dec 31, 2023