Marathon Oil Corporation (MRO)
Receivables turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 6,697,000 | 8,036,000 | 5,467,000 | 3,086,000 | 5,190,000 |
| Receivables | US$ in thousands | 1,152,000 | 1,146,000 | 1,142,000 | 747,000 | 1,122,000 |
| Receivables turnover | 5.81 | 7.01 | 4.79 | 4.13 | 4.63 |
December 31, 2023 calculation
Receivables turnover = Revenue ÷ Receivables
= $6,697,000K ÷ $1,152,000K
= 5.81
The receivables turnover ratio of Marathon Oil Corporation has fluctuated over the past five years. As of December 31, 2023, the company's receivables turnover ratio stood at 5.56, representing a decrease from the previous year's ratio of 6.58. This reduction indicates that the company took longer to collect its accounts receivables in 2023 compared to 2022.
In 2021, Marathon Oil Corporation had a receivables turnover ratio of 4.90, showing an improvement from the previous year's ratio of 4.15. This uptick suggests that the company managed to collect its receivables more efficiently in 2021.
Looking back to 2020, the receivables turnover ratio was 4.15, which was lower than the ratio in 2019 (4.51). This decline implies that in 2020, the company faced challenges in collecting its receivables within a shorter timeframe compared to the previous year.
Overall, while there have been fluctuations in Marathon Oil Corporation's receivables turnover ratio over the years, it is essential for the company to monitor and manage its accounts receivables effectively to ensure timely collection and maintain a healthy cash flow position.
Peer comparison
Dec 31, 2023