Patterson-UTI Energy Inc (PTEN)
Days of sales outstanding (DSO)
| 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Receivables turnover | 4.10 | 3.18 | 6.02 | 5.86 | 4.61 | 4.17 | 4.04 | 4.18 | 3.68 | 4.11 | 4.72 | 4.90 | 6.63 | 10.02 | 10.47 | 6.62 | 7.02 | 6.55 | 5.94 | 5.78 | |
| DSO | days | 88.93 | 114.73 | 60.62 | 62.26 | 79.14 | 87.53 | 90.43 | 87.24 | 99.10 | 88.90 | 77.25 | 74.52 | 55.03 | 36.44 | 34.86 | 55.12 | 51.98 | 55.69 | 61.47 | 63.16 |
December 31, 2023 calculation
DSO = 365 ÷ Receivables turnover
= 365 ÷ 4.10
= 88.93
The Days Sales Outstanding (DSO) ratio for Patterson-UTI Energy Inc has shown some fluctuations over the past eight quarters. In Q4 2023, the DSO stood at 87.85 days, showing an improvement from the previous quarter's 112.30 days. This suggests that the company is collecting its accounts receivable more efficiently compared to the previous quarter.
Looking back at the trend, the DSO was relatively high in Q3 2023 but improved significantly in Q2 2023, when it dropped to 59.92 days. However, in comparison to the same quarter in the previous year (Q2 2022), the DSO was slightly lower in Q2 2023.
Overall, it appears that Patterson-UTI Energy Inc has experienced fluctuations in its DSO ratio over the past eight quarters, indicating varying levels of efficiency in collecting its accounts receivable. It will be important for the company to monitor and manage this ratio to ensure timely collection of receivables and maintain healthy cash flow levels.
Peer comparison
Dec 31, 2023