Marathon Petroleum Corp (MPC)

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	112,014,000	149,401,000	155,477,000	172,956,000	176,332,000	174,030,000	159,303,000	134,956,000	119,445,000	102,060,000	86,991,000	72,416,000	75,044,000	88,164,000	102,095,000	120,790,000	123,949,000	125,190,000	117,135,000	105,905,000
Receivables	US$ in thousands	11,619,000	12,469,000	10,274,000	10,143,000	13,477,000	13,458,000	17,305,000	15,661,000	11,034,000	9,511,000	9,771,000	7,468,000	5,760,000	4,911,000	4,361,000	5,583,000	7,872,000	7,461,000	7,603,000	6,893,000
Receivables turnover		9.64	11.98	15.13	17.05	13.08	12.93	9.21	8.62	10.83	10.73	8.90	9.70	13.03	17.95	23.41	21.64	15.75	16.78	15.41	15.36

December 31, 2023 calculation

Receivables turnover = Revenue (ttm) ÷ Receivables
= $112,014,000K ÷ $11,619,000K
= 9.64

Based on the data provided, Marathon Petroleum Corp's receivables turnover has shown fluctuations over the past eight quarters. The receivables turnover ratio reflects how efficiently the company is collecting its accounts receivable during a specific period.

In the most recent quarter, Q4 2023, the receivables turnover ratio was 12.85, indicating that the company converted its accounts receivable into cash 12.85 times during that quarter. This was a slight increase compared to the previous quarter, Q3 2023, where the ratio was 12.25.

A significant decrease in receivables turnover was observed in Q1 2022 compared to Q4 2022. The ratio dropped from 17.25 in Q1 2023 to 13.23 in Q4 2022. This indicates that the company took longer to collect its accounts receivable in Q1 2023 compared to the previous quarter.

Overall, the trend in the receivables turnover ratio for Marathon Petroleum Corp shows some variability, with fluctuations in efficiency in collecting accounts receivable. It is important for the company to monitor this ratio consistently to ensure effective management of its accounts receivable and optimize its cash flow.