Range Resources Corp (RRC)

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	3,374,418	4,063,441	4,564,257	5,152,420	4,146,796	4,083,246	3,275,345	2,484,927	2,930,223	1,962,279	1,958,985	1,900,809	1,968,697	1,975,415	2,298,515	2,773,398	2,827,615	3,294,651	3,483,431	3,288,186
Receivables	US$ in thousands	274,669	217,335	187,762	256,030	481,050	634,333	608,575	413,026	471,775	366,695	299,590	286,491	252,642	182,698	169,151	188,162	272,900	249,190	289,295	356,716
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

December 31, 2023 calculation

Receivables turnover = Revenue (ttm) ÷ Receivables
= $3,374,418K ÷ $274,669K
= 12.29

Range Resources Corp's receivables turnover has shown fluctuating trends over the past eight quarters. The receivables turnover ratio measures how efficiently the company is collecting its accounts receivable during a specific period.

In Q2 2023, the receivables turnover ratio was the highest at 24.31, indicating that the company collected its accounts receivable approximately 24 times during that quarter. This suggests that Range Resources Corp was efficiently managing its accounts receivable and had a strong cash collection cycle.

In contrast, Q2 2022 had the lowest receivables turnover ratio of 5.38, implying that the company was collecting its accounts receivable at a slower pace during that period. This could be a red flag as a low turnover ratio may indicate potential issues with collecting outstanding payments, leading to cash flow constraints.

Overall, the trend of the receivables turnover ratio for Range Resources Corp has been volatile, with periods of both strong and weak collection efficiency. It is essential for the company to monitor this ratio closely to ensure timely collection of accounts receivable and maintain healthy cash flow levels.