ProPetro Holding Corp (PUMP)
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 | 1,632,321 | 1,680,827 | 1,590,769 | 1,471,214 | 1,336,820 | 1,159,290 | 1,079,169 | 981,483 | 863,284 | 771,558 | 652,875 | 541,465 | 767,169 | 1,047,619 | 1,454,144 | 1,876,294 | 2,027,408 | 2,018,028 | 1,910,491 | 1,840,680 |
Receivables | US$ in thousands | 237,012 | 260,757 | 251,104 | 290,125 | 215,925 | 210,522 | 182,026 | 172,180 | 128,148 | 149,650 | 138,309 | 110,386 | 84,244 | 94,663 | 65,554 | 222,378 | 212,183 | 275,749 | 371,478 | 357,472 |
Receivables turnover | 6.89 | 6.45 | 6.34 | 5.07 | 6.19 | 5.51 | 5.93 | 5.70 | 6.74 | 5.16 | 4.72 | 4.91 | 9.11 | 11.07 | 22.18 | 8.44 | 9.55 | 7.32 | 5.14 | 5.15 |
December 31, 2023 calculation
Receivables turnover = Revenue (ttm) ÷ Receivables
= $1,632,321K ÷ $237,012K
= 6.89
The receivables turnover ratio for ProPetro Holding Corp has fluctuated over the past five years, indicating varying effectiveness in collecting outstanding receivables from customers. The ratio has generally been above 5, indicating that the company is efficient in converting its accounts receivable into cash.
The highest receivables turnover ratio was recorded in June 2020 at 22.18, suggesting the company collected its outstanding receivables more than 22 times during that period. This could be due to effective credit management policies or a focus on collecting receivables promptly.
Conversely, the lowest receivables turnover ratio was observed in March 2021 at 4.72, indicating a slower collection of accounts receivable during that period. This could be a signal of potential credit issues with customers or delays in collections.
Overall, the trend in ProPetro's receivables turnover ratio indicates some fluctuations in the company's ability to efficiently collect outstanding receivables from customers. It may be beneficial for the company to closely monitor this ratio and potentially implement strategies to improve it in periods of lower turnover.
Peer comparison
Dec 31, 2023