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.
Peer comparison
Dec 31, 2023