Northern Oil & Gas Inc (NOG)

Receivables turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	US$ in thousands	2,166,260	1,570,540	496,899	552,210	472,402
Receivables	US$ in thousands	373,780	271,674	193,554	71,015	108,484
Receivables turnover		5.80	5.78	2.57	7.78	4.35

December 31, 2023 calculation

Receivables turnover = Revenue ÷ Receivables
= $2,166,260K ÷ $373,780K
= 5.80

Northern Oil and Gas Inc.'s receivables turnover ratio has experienced fluctuations over the past five years. The ratio, which measures how effectively the company is collecting its accounts receivable, stood at 5.80 in 2023, a slight increase from 5.78 in 2022. This indicates that the company collected its receivables approximately 5.80 times during the year, suggesting a consistent performance in managing its accounts receivable turnover.

The receivables turnover was lower in 2021 at 2.57, which may imply that the company took longer to collect its receivables during that year. However, there was a notable improvement in 2020 with a receivables turnover of 7.78, indicating a more efficient collection process. In 2019, the ratio was 4.35, showing a moderate performance in receivables management.

Overall, while there have been fluctuations in Northern Oil and Gas Inc.'s receivables turnover ratio over the years, the company has generally maintained a reasonable level of efficiency in collecting its accounts receivable. It is essential for the company to continue monitoring and improving its receivables management practices to ensure timely collection and optimal cash flow.