PNM Resources Inc (PNM)
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 | 1,939,198 | 2,102,903 | 2,326,940 | 2,349,514 | 2,249,555 | 2,107,811 | 1,932,474 | 1,859,284 | 1,779,873 | 1,705,074 | 1,622,988 | 1,554,097 | 1,523,012 | 1,507,880 | 1,469,001 | 1,441,580 | 1,457,603 | 1,457,215 | 1,446,295 | 1,468,380 |
Receivables | US$ in thousands | 197,060 | 245,347 | 191,492 | 183,504 | 249,493 | 247,328 | 220,135 | 162,270 | 185,906 | 211,023 | 198,830 | 150,968 | 174,586 | 204,702 | 171,183 | 133,324 | 148,238 | 176,831 | 149,281 | 141,265 |
Receivables turnover | 9.84 | 8.57 | 12.15 | 12.80 | 9.02 | 8.52 | 8.78 | 11.46 | 9.57 | 8.08 | 8.16 | 10.29 | 8.72 | 7.37 | 8.58 | 10.81 | 9.83 | 8.24 | 9.69 | 10.39 |
December 31, 2023 calculation
Receivables turnover = Revenue (ttm) ÷ Receivables
= $1,939,198K ÷ $197,060K
= 9.84
The receivables turnover for PNM Resources Inc has shown fluctuating trends over the past eight quarters. In Q1 2022, the company had a relatively high receivables turnover of 10.23, which then increased further to 11.43 in Q1 2023, indicating that the company was able to collect its accounts receivable quickly during those periods.
However, in the subsequent quarters, the receivables turnover ratio decreased, reaching its lowest point of 7.09 in Q4 2023. This suggests that PNM Resources Inc took longer to collect its receivables during that quarter compared to previous quarters.
On average, the company's receivables turnover ratio over the eight quarters was approximately 8.58, indicating that on average, PNM Resources Inc collected its accounts receivable around 8.58 times per year.
It's essential for PNM Resources Inc to closely monitor and manage its accounts receivable turnover to ensure efficient collections and maintain healthy cash flows. The downward trend in the receivables turnover ratio in recent quarters should be thoroughly analyzed to understand the underlying reasons and take necessary steps to improve efficiency in collecting receivables.
Peer comparison
Dec 31, 2023