RPC Inc (RES)

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	1,627,895	1,715,915	1,844,822	1,803,105	1,610,973	1,397,875	1,163,741	978,423	874,713	753,085	646,296	546,954	607,765	693,795	865,222	1,132,284	1,560,510	2,076,983	2,665,602	3,243,666
Receivables	US$ in thousands	437,693	389,667	446,757	424,705	567,285	515,466	403,059	342,965	401,039	289,213	231,676	269,503	276,099	187,465	156,090	282,965	322,895	309,334	362,676	418,357
Receivables turnover		3.72	4.40	4.13	4.25	2.84	2.71	2.89	2.85	2.18	2.60	2.79	2.03	2.20	3.70	5.54	4.00	4.83	6.71	7.35	7.75

December 31, 2023 calculation

Receivables turnover = Revenue (ttm) ÷ Receivables
= $1,627,895K ÷ $437,693K
= 3.72

The receivables turnover for RPC, Inc. has shown fluctuating trends over the past eight quarters. The ratio increased from Q1 2022 to Q2 2023, indicating an improvement in the company's ability to collect on its receivables in a timely manner. However, there was a slight decrease in Q3 2023 followed by a slight increase in Q4 2023.

Overall, the increasing trend in receivables turnover from Q1 2022 to Q2 2023 suggests that RPC, Inc. has been more efficient in converting its accounts receivable into cash during that period. This could be a positive sign, indicating effective credit management practices or stronger customer collections.

However, the fluctuations in Q3 and Q4 2023 may warrant further investigation to understand the underlying factors contributing to these changes. Further analysis of the company's accounts receivable policies, customer payment behavior, or industry-specific factors may provide additional insights into the variations observed in the receivables turnover ratio.