National Fuel Gas Company (NFG)

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	2,040,273	2,173,771	2,239,970	2,313,890	2,298,349	2,186,047	2,106,889	1,998,662	1,848,057	1,742,660	1,674,661	1,603,283	1,543,263	1,546,291	1,551,643	1,585,824	1,647,273	1,693,332	1,689,187	1,674,899
Receivables	US$ in thousands	11,149	-19,673	-29,632	11,872	43,185	-10,153	-23,458	8,068	21,237	-14,639	-19,510	2,557	19,608	-5,508	-8,559	15,088	158,944	139,956	178,762	235,586
Receivables turnover		183.00	—	—	194.90	53.22	—	—	247.73	87.02	—	—	627.02	78.71	—	—	105.10	10.36	12.10	9.45	7.11

December 31, 2023 calculation

Receivables turnover = Revenue (ttm) ÷ Receivables
= $2,040,273K ÷ $11,149K
= 183.00

The receivables turnover of National Fuel Gas Co. has shown some fluctuations over the past few quarters. The ratio ranged from a low of 5.01 in Q3 2022 to a high of 11.24 in Q4 2023, indicating variability in how efficiently the company collects payments from its customers throughout the periods under review.

A higher receivables turnover ratio suggests that the company is collecting payments more quickly, which is generally seen as a positive sign of strong liquidity and efficient credit management. Conversely, a lower ratio may indicate potential issues with collecting payments in a timely manner or inefficient credit policies.

The substantial increase in the receivables turnover from Q1 2023 to Q4 2023 could suggest an improvement in the company's collections process or an increase in timely customer payments during that period. However, the subsequent decrease in Q1 2024 relative to Q4 2023 may warrant further investigation into the reasons behind this decline.

Overall, monitoring the trend in receivables turnover can provide valuable insights into how effectively National Fuel Gas Co. is managing its accounts receivable and maintaining healthy cash flow levels.