Oceaneering International Inc (OII)

Receivables turnover

		Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Revenue	US$ in thousands	2,661,160	2,424,710	2,066,080	1,869,280	1,827,890
Receivables	US$ in thousands	303,583	331,326	296,554	262,960	296,214
Receivables turnover		8.77	7.32	6.97	7.11	6.17

December 31, 2024 calculation

Receivables turnover = Revenue ÷ Receivables
= $2,661,160K ÷ $303,583K
= 8.77

Oceaneering International Inc's receivables turnover has shown a positive trend over the past five years, indicating an improvement in the efficiency of the company in collecting its accounts receivable.

The receivables turnover ratio, which measures how many times a company collects its average accounts receivable balance during a period, increased from 6.17 in December 2020 to 8.77 in December 2024. This suggests that the company has become more effective in converting its accounts receivable into cash over the years.

A higher receivables turnover ratio generally indicates a shorter average collection period for receivables, which can be a positive sign of efficient credit management and a faster cash conversion cycle. Oceaneering International Inc's increasing trend in receivables turnover reflects a healthier and more efficient management of its accounts receivable, potentially improving its working capital management and overall financial performance.