ONEOK Inc (OKE)
Receivables turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 16,811,000 | 22,386,900 | 16,540,300 | 8,542,240 | 10,164,400 |
| Receivables | US$ in thousands | 1,705,000 | 1,532,000 | 1,441,790 | 829,796 | 835,121 |
| Receivables turnover | 9.86 | 14.61 | 11.47 | 10.29 | 12.17 |
December 31, 2023 calculation
Receivables turnover = Revenue ÷ Receivables
= $16,811,000K ÷ $1,705,000K
= 9.86
Oneok Inc.'s receivables turnover has exhibited fluctuating trends over the past five years. The ratio stood at 10.37 in 2023, indicating a decrease from the previous year's 14.61. Despite the decline, the company's ability to convert its accounts receivable into cash during the year remains relatively efficient compared to 2020 when the turnover was 10.29. The 2023 ratio is also higher than the 2019 turnover of 12.17, suggesting an improvement in the efficiency of collections from customers. Overall, while the receivables turnover has varied, Oneok Inc. appears to manage its accounts receivable effectively in recent years.
Peer comparison
Dec 31, 2023