SM Energy Co (SM)

Receivables turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	US$ in thousands	2,373,890	3,358,650	2,622,890	1,126,670	1,590,100
Receivables	US$ in thousands	231,165	233,297	247,201	162,455	184,732
Receivables turnover		10.27	14.40	10.61	6.94	8.61

December 31, 2023 calculation

Receivables turnover = Revenue ÷ Receivables
= $2,373,890K ÷ $231,165K
= 10.27

The receivables turnover ratio for SM Energy Co has fluctuated over the past five years, ranging from 6.93 to 14.40. A higher ratio indicates that the company is collecting its accounts receivables more efficiently. In 2023, the receivables turnover ratio dropped to 10.27 from 14.40 in 2022, suggesting a slight decrease in the efficiency of collecting receivables compared to the previous year. However, the ratio remains relatively high, indicating that the company is still managing its accounts receivables effectively. Further analysis of the company's accounts receivable management practices and industry benchmarks may provide additional insights into this trend.