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.
Peer comparison
Dec 31, 2024