PNM Resources Inc (PNM)
Receivables turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 1,939,200 | 2,249,560 | 1,779,870 | 1,523,010 | 1,457,600 |
| Receivables | US$ in thousands | 197,060 | 249,493 | 185,906 | 174,586 | 148,238 |
| Receivables turnover | 9.84 | 9.02 | 9.57 | 8.72 | 9.83 |
December 31, 2023 calculation
Receivables turnover = Revenue ÷ Receivables
= $1,939,200K ÷ $197,060K
= 9.84
The receivables turnover for PNM Resources Inc has shown some fluctuations over the past five years. The ratio indicates how efficiently the company is able to collect payments from its customers.
The trend shows a decrease from 2019 to 2020, followed by an increase in 2021, only to decrease again in 2022 and 2023.
In 2019, the company had a higher receivables turnover of 9.09, suggesting that it collected its outstanding receivables more frequently during that period compared to the other years in the dataset.
Overall, the receivables turnover for PNM Resources Inc has been relatively stable, hovering around the 7 to 9 range over the past five years. This indicates that the company has been moderately effective in collecting payments from its customers in a timely manner, although there have been slight fluctuations in efficiency from year to year.
Peer comparison
Dec 31, 2023