NewJersey Resources Corporation (NJR)

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	2,192,587	2,674,367	3,468,262	4,014,136	4,540,009	4,515,989	4,164,967	3,884,509	3,766,679	3,389,416	3,981,548	3,708,295	3,052,065	2,991,428	1,955,697	2,090,606	2,344,402	2,542,837	2,721,864	2,844,092
Receivables	US$ in thousands	253,556	105,604	114,451	229,074	469,341	216,687	260,463	308,113	314,997	198,537	196,599	261,845	240,330	136,157	144,822	230,041	307,652	139,625	175,736	310,558
Receivables turnover		8.65	25.32	30.30	17.52	9.67	20.84	15.99	12.61	11.96	17.07	20.25	14.16	12.70	21.97	13.50	9.09	7.62	18.21	15.49	9.16

December 31, 2023 calculation

Receivables turnover = Revenue (ttm) ÷ Receivables
= $2,192,587K ÷ $253,556K
= 8.65

The receivables turnover ratio for New Jersey Resources Corporation has shown significant fluctuations over the past eight quarters.

In Q3 2023 and Q4 2023, the company experienced a substantial increase in receivables turnover, reaching 20.94 and 18.59, respectively. This suggests that during this period, the company was able to efficiently collect its accounts receivable and convert them into cash quickly.

However, in Q1 2024, the receivables turnover ratio dropped to 6.73, indicating a significant decrease in the speed at which the company collected its accounts receivable. This may raise concerns about the company's ability to efficiently manage its receivables and convert them into cash.

Overall, the varying levels of receivables turnover ratios indicate fluctuations in the company's collection efficiency and cash flow management. It would be important for stakeholders to further investigate the reasons behind these fluctuations to assess the company's financial health and performance.