Patterson-UTI Energy Inc (PTEN)
Receivables turnover
| Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 5,377,910 | 5,800,090 | 5,454,320 | 4,865,015 | 4,146,457 | 3,344,072 | 3,049,150 | 2,901,845 | 2,609,966 | 2,279,773 | 1,910,447 | 1,579,937 | 1,311,774 | 1,080,833 | 929,484 | 887,810 | 1,091,992 | 1,363,488 | 1,745,348 | 2,168,419 |
| Receivables | US$ in thousands | 788,583 | 898,992 | 902,662 | 898,750 | 998,040 | 1,040,600 | 503,431 | 493,563 | 565,919 | 546,711 | 473,340 | 377,639 | 356,150 | 263,250 | 196,726 | 181,261 | 164,642 | 136,107 | 166,706 | 327,446 |
| Receivables turnover | 6.82 | 6.45 | 6.04 | 5.41 | 4.15 | 3.21 | 6.06 | 5.88 | 4.61 | 4.17 | 4.04 | 4.18 | 3.68 | 4.11 | 4.72 | 4.90 | 6.63 | 10.02 | 10.47 | 6.62 |
December 31, 2024 calculation
Receivables turnover = Revenue (ttm) ÷ Receivables
= $5,377,910K ÷ $788,583K
= 6.82
The receivables turnover ratio measures how efficiently a company is able to collect cash from its credit sales during a specific period. A higher receivables turnover ratio indicates that the company is collecting payments from its customers more quickly.
Analyzing the trend in Patterson-UTI Energy Inc's receivables turnover ratio over the past few years, we observe fluctuations in the ratio. In the beginning of the data period, the ratio was relatively high, around 6 to 10, indicating efficient collection of receivables. However, there was a significant decline in the ratio in the subsequent periods, dropping to below 5 by March 31, 2021 and continuing to decrease to around 3 to 4 by September 30, 2021.
After reaching this low point, the receivables turnover ratio started to gradually increase, showing signs of improvement in the company's ability to collect payments from its customers. The ratio increased to around 5 by March 31, 2022, continued to rise to above 6 by September 30, 2024, and ultimately reached its peak at 6.82 by December 31, 2024.
Overall, Patterson-UTI Energy Inc's receivables turnover ratio has demonstrated variability over the analyzed period, with periods of both efficient and less efficient receivables collection. The recent upward trend in the ratio suggests improved collection efficiency, which can positively impact the company's cash flow and financial performance.
Peer comparison
Dec 31, 2024