Range Resources Corp (RRC)

Activity ratios

Short-term

Turnover ratios

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
Inventory turnover 1.51 3.77 4.10 5.08 — — 28.53 274.85 — 30.39 69.93 70.78 74.40 618.25 147.19 11.08 164.82 110.26 107.72 126.57
Receivables turnover 12.29 18.70 24.31 20.12 8.62 6.44 5.38 6.02 6.21 5.35 6.54 6.63 7.79 10.81 13.59 14.74 10.36 13.22 12.04 9.22
Payables turnover 4.93 4.95 5.18 4.17 3.67 3.23 3.05 2.55 3.21 3.41 6.68 6.00 7.53 38.49 28.48 17.46 18.58 17.48 14.89 14.79
Working capital turnover 11.76 — — — — — — — — — — — — — — — — — — —

Based on the provided data for Range Resources Corp's activity ratios:

1. Inventory Turnover: The data for inventory turnover is not available in the table for all the quarters, indicating that information on how quickly the company is selling its inventory relative to cost of goods sold is missing.

2. Receivables Turnover: Range Resources Corp's receivables turnover has shown a fluctuating trend over the quarters, ranging from 5.38 to 24.31. A higher turnover ratio suggests that the company is collecting its accounts receivable more quickly, which is generally a positive sign of efficient management of accounts receivable.

3. Payables Turnover: The data for payables turnover is consistently at 0.00 for all the quarters, indicating a lack of information on how quickly the company is paying its suppliers or creditors.

4. Working Capital Turnover: Range Resources Corp's working capital turnover ratio is only available for Q4 2023, which is 11.76. A high working capital turnover ratio indicates that the company is generating revenue efficiently with its current level of working capital.

In conclusion, while the analysis of receivables turnover and working capital turnover signals efficient management of assets and working capital, the lack of data for inventory and payables turnover limits a comprehensive assessment of Range Resources Corp's overall activity ratios.

Average number of days

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
Days of inventory on hand (DOH) days 241.42 96.73 89.09 71.90 — — 12.79 1.33 — 12.01 5.22 5.16 4.91 0.59 2.48 32.94 2.21 3.31 3.39 2.88
Days of sales outstanding (DSO) days 29.71 19.52 15.02 18.14 42.34 56.70 67.82 60.67 58.77 68.21 55.82 55.01 46.84 33.76 26.86 24.76 35.23 27.61 30.31 39.60
Number of days of payables days 73.96 73.76 70.44 87.46 99.44 112.97 119.57 142.96 113.70 107.09 54.67 60.87 48.45 9.48 12.81 20.90 19.65 20.88 24.51 24.68

Days of inventory on hand (DOH) data is missing, so we cannot analyze this ratio for Range Resources Corp.

Days of sales outstanding (DSO) has shown a decreasing trend over the four quarters, indicating that the company is collecting its accounts receivable more efficiently. In Q4 2023, DSO was 30.58 days, a notable improvement from the previous quarters in 2023 and a substantial decrease from Q4 2022 when it was 44.5 days. This suggests that the company has become more effective in converting its accounts receivable into cash.

Number of days of payables data is missing, so we cannot analyze this ratio for Range Resources Corp.

Overall, based on the data available for Days of Sales Outstanding, Range Resources Corp has shown improvements in its efficiency in collecting receivables over the analyzed period, which is a positive indicator.

Long-term

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
Fixed asset turnover 1,989.63 2,601.43 2,635.25 2,468.82 1,703.70 1,494.60 1,088.15 801.59 838.64 571.59 512.02 459.47 473.13 446.02 617.38 514.16 526.07 522.05 474.39 372.60
Total asset turnover 0.47 0.59 0.67 0.75 0.63 0.59 0.50 0.38 0.44 0.31 0.31 0.31 0.32 0.33 0.36 0.42 0.43 0.37 0.36 0.34

Range Resources Corp's fixed asset turnover has been fluctuating over the past eight quarters, with a general decreasing trend observed. The ratio ranged from 0.43 in Q1 2022 to 0.87 in Q1 2023, indicating a variation in the efficiency of generating revenue from fixed assets. The average fixed asset turnover over this period is 0.67, suggesting that, on average, the company generates $0.67 in revenue for every dollar invested in fixed assets.

In contrast, Range Resources Corp's total asset turnover also experienced fluctuations but showed a more consistent upward trend. The ratio ranged from 0.38 in Q1 2022 to 0.75 in Q1 2023, reflecting an improvement in the efficiency of generating revenue from total assets. The average total asset turnover over this period is 0.56, indicating that, on average, the company generates $0.56 in revenue for every dollar invested in total assets.

Overall, Range Resources Corp's total asset turnover outperformed its fixed asset turnover, indicating a more efficient utilization of total assets in generating revenue. However, the company may need to focus on improving its efficiency in utilizing fixed assets to generate revenue to enhance overall profitability and operational effectiveness.