NOV Inc. (NOV)
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 | 8,583,000 | 8,313,000 | 8,017,000 | 7,651,000 | 7,237,000 | 6,681,000 | 6,133,000 | 5,823,000 | 5,524,000 | 5,334,000 | 5,377,000 | 5,456,000 | 6,090,000 | 7,044,000 | 7,786,000 | 8,422,000 | 8,479,000 | 8,596,000 | 8,624,000 | 8,598,000 |
| Receivables | US$ in thousands | 1,905,000 | 1,982,000 | 1,891,000 | 1,776,000 | 1,739,000 | 1,623,000 | 1,582,000 | 1,465,000 | 1,321,000 | 1,280,000 | 1,258,000 | 1,265,000 | 1,274,000 | 1,382,000 | 1,502,000 | 1,879,000 | 1,855,000 | 1,799,000 | 1,973,000 | 1,793,000 |
| Receivables turnover | 4.51 | 4.19 | 4.24 | 4.31 | 4.16 | 4.12 | 3.88 | 3.97 | 4.18 | 4.17 | 4.27 | 4.31 | 4.78 | 5.10 | 5.18 | 4.48 | 4.57 | 4.78 | 4.37 | 4.80 |
December 31, 2023 calculation
Receivables turnover = Revenue (ttm) ÷ Receivables
= $8,583,000K ÷ $1,905,000K
= 4.51
The receivables turnover ratio for NOV Inc has been relatively stable over the past eight quarters, ranging from 3.88 to 4.51. This ratio indicates how efficiently the company is able to collect cash from its customers in a given period. A higher receivables turnover ratio typically signifies that the company is able to collect payments from its customers more quickly.
NOV Inc's average receivables turnover ratio over this period is approximately 4.17. This means that, on average, NOV Inc is able to collect payments from its customers about 4.17 times per year.
The slight fluctuations in the ratio quarter to quarter indicate potential variations in the company's collection efficiency. It is important for NOV Inc to monitor and manage its accounts receivables effectively to ensure cash flow remains strong and the company's financial health is maintained.
Peer comparison
Dec 31, 2023