One Gas Inc (OGS)

Days of sales outstanding (DSO)

		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
Receivables turnover		6.82	24.77	18.85	9.02	7.93	18.75	14.54	6.90	8.98	23.59	17.20	9.73	8.95	25.72	19.80	10.86	9.46	8.64	6.59	3.98
DSO	days	53.53	14.74	19.36	40.48	46.06	19.46	25.10	52.87	40.64	15.48	21.22	37.51	40.76	14.19	18.44	33.63	38.59	42.26	55.38	91.78

December 31, 2023 calculation

DSO = 365 ÷ Receivables turnover
= 365 ÷ 6.82
= 53.53

To analyze ONE Gas Inc's Days of Sales Outstanding (DSO) over the past eight quarters, we observe fluctuations in the efficiency of the company in collecting accounts receivable.

In Q4 2023, the DSO increased significantly to 53.53 days from 25.07 days in the previous quarter. This rise may indicate delays in collecting payments from customers, which could potentially impact the company's cash flow.

Comparing Q4 2023 to earlier quarters, the DSO has been on a fluctuating trend. Q3 2023 showed a notable improvement with DSO at 25.07 days, suggesting more efficient collections, whereas in Q2 2023 and Q1 2023, the DSO increased to 32.81 days and 68.27 days, respectively, indicating slower collection of receivables.

Looking further back, Q4 2022 had a relatively high DSO of 78.41 days, followed by a significant improvement in Q3 2022 at 29.89 days. However, Q2 2022 and Q1 2022 saw increases to 39.05 days and 83.80 days, respectively, revealing inconsistencies in the collection process.

The fluctuating trend in DSO suggests variability in ONE Gas Inc's efficiency in managing accounts receivable and highlights the importance of monitoring and improving the company's receivables management practices to ensure a steady cash flow.