ONEOK Inc (OKE)
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 | 17,157,000 | 17,259,030 | 19,198,560 | 21,462,560 | 22,386,560 | 22,775,020 | 21,397,670 | 18,790,630 | 16,540,310 | 13,690,400 | 11,328,480 | 9,600,250 | 8,542,240 | 8,635,270 | 8,724,240 | 9,521,090 | 10,164,380 | 10,637,470 | 11,768,130 | 12,271,080 |
| Receivables | US$ in thousands | 1,705,000 | 1,571,000 | 1,023,000 | 1,153,000 | 1,532,000 | 1,729,190 | 1,778,690 | 1,682,460 | 1,441,790 | 1,497,550 | 1,091,980 | 909,972 | 829,796 | 717,852 | 608,923 | 497,556 | 835,121 | 718,708 | 669,289 | 812,869 |
| Receivables turnover | 10.06 | 10.99 | 18.77 | 18.61 | 14.61 | 13.17 | 12.03 | 11.17 | 11.47 | 9.14 | 10.37 | 10.55 | 10.29 | 12.03 | 14.33 | 19.14 | 12.17 | 14.80 | 17.58 | 15.10 |
December 31, 2023 calculation
Receivables turnover = Revenue (ttm) ÷ Receivables
= $17,157,000K ÷ $1,705,000K
= 10.06
The receivables turnover ratio for Oneok Inc. has shown varying levels over the past eight quarters, ranging from 10.37 to 18.77. Specifically, in Q4 2023, the company's receivables turnover was at 10.37, a decrease compared to the previous quarter's 11.12. Despite this decline, the turnover ratio in Q4 2023 remained within a range consistent with historical performance.
A receivables turnover ratio measures how efficiently a company is able to collect payments from its customers. A higher ratio typically indicates more effective management of accounts receivable and faster collection of outstanding payments. In this case, Oneok Inc. has generally maintained a healthy level of receivables turnover, with ratios consistently above 10 in the past eight quarters.
The significant increase in receivables turnover observed in Q2 and Q3 2023, reaching 18.77 and 11.17 respectively, could indicate improved collection efficiency during those periods. However, the subsequent slight decline in Q4 2023 suggests that there may have been some challenges or changes affecting the company's receivables management.
Overall, a relatively stable performance in receivables turnover, with occasional fluctuations, indicates that Oneok Inc. has been effectively managing its accounts receivable and collecting payments from customers in a timely manner. However, further analysis and comparison with industry benchmarks may provide additional insights into the company's receivables management effectiveness.
Peer comparison
Dec 31, 2023