Newmont Goldcorp Corp (NEM)
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 | 11,635,000 | 10,897,000 | 11,038,000 | 11,451,000 | 11,807,000 | 12,044,000 | 12,312,000 | 12,300,000 | 12,171,000 | 12,135,000 | 12,371,000 | 11,608,000 | 11,286,000 | 10,998,000 | 10,564,000 | 10,515,000 | 9,743,000 | 8,824,000 | 7,852,000 | 7,267,000 |
| Receivables | US$ in thousands | 1,227,000 | 78,000 | 185,000 | 348,000 | 366,000 | 289,000 | 364,000 | 413,000 | 337,000 | 334,000 | 341,000 | 263,000 | 449,000 | 324,000 | 255,000 | 220,000 | 373,000 | 760,000 | 650,000 | 289,000 |
| Receivables turnover | 9.48 | 139.71 | 59.66 | 32.91 | 32.26 | 41.67 | 33.82 | 29.78 | 36.12 | 36.33 | 36.28 | 44.14 | 25.14 | 33.94 | 41.43 | 47.80 | 26.12 | 11.61 | 12.08 | 25.15 |
December 31, 2023 calculation
Receivables turnover = Revenue (ttm) ÷ Receivables
= $11,635,000K ÷ $1,227,000K
= 9.48
The receivables turnover ratio for Newmont Corp fluctuated significantly over the past eight quarters. In Q3 2023, the ratio spiked to 141.73, indicating that the company collected its accounts receivable over 141 times during that period. This sudden increase may be attributed to specific events or changes in the company's operations. In contrast, in Q1 2023, the ratio dropped to 33.25, which is significantly lower than the previous quarter but still relatively healthy.
Overall, the average receivables turnover ratio for Newmont Corp over the eight quarters was approximately 46.16. A high receivables turnover ratio generally indicates that the company is efficient in collecting outstanding payments from its customers. However, the significant variations in the ratio over the quarters suggest a potential need for further analysis to understand the underlying reasons for these fluctuations and to ensure sustainable financial performance.