Occidental Petroleum Corporation (OXY)

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	28,257,000	29,304,000	31,536,000	35,510,000	36,634,000	36,328,000	33,730,000	29,012,000	25,956,000	22,203,000	19,519,000	16,489,000	17,809,000	20,277,000	22,028,000	23,520,000	20,911,000	20,294,000	18,692,000	18,355,000
Receivables	US$ in thousands	3,195,000	3,674,000	2,850,000	3,272,000	4,300,000	4,000,000	6,400,000	5,434,000	4,208,000	3,500,000	3,288,000	3,046,000	2,115,000	2,083,000	2,359,000	2,458,000	6,373,000	5,900,000	5,273,000	5,310,000
Receivables turnover		8.84	7.98	11.07	10.85	8.52	9.08	5.27	5.34	6.17	6.34	5.94	5.41	8.42	9.73	9.34	9.57	3.28	3.44	3.54	3.46

December 31, 2023 calculation

Receivables turnover = Revenue (ttm) ÷ Receivables
= $28,257,000K ÷ $3,195,000K
= 8.84

Occidental Petroleum Corp.'s receivables turnover has fluctuated over the past eight quarters, with a high of 11.07 in Q2 2023 and a low of 5.31 in Q2 2022. The overall trend indicates variability in how efficiently the company is collecting on its credit sales. Generally, a higher receivables turnover ratio signifies that the company is collecting outstanding payments more quickly, indicating a more efficient credit management process. Conversely, a lower ratio suggests that the company may be experiencing difficulties in collecting payments promptly.

The average receivables turnover ratio for Occidental Petroleum Corp. over the eight quarters is approximately 8.21. This indicates that, on average, the company collects on its credit sales every approximately 8.21 times within a year. The company should strive to consistently monitor and improve its receivables turnover ratio to ensure effective credit management and maintain a healthy cash flow position.