Valero Energy Corporation (VLO)

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	144,216,000	150,596,000	156,657,000	173,795,000	175,838,000	169,727,000	154,779,000	130,878,000	113,188,000	94,227,000	80,668,000	63,467,000	64,912,000	76,187,000	87,627,000	106,163,000	108,324,000	109,175,000	112,775,000	114,857,000
Receivables	US$ in thousands	12,525,000	12,566,000	10,888,000	9,688,000	11,919,000	11,581,000	14,439,000	13,080,000	10,378,000	8,627,000	9,132,000	9,014,000	6,109,000	5,601,000	4,152,000	5,392,000	8,988,000	7,994,000	9,050,000	8,289,000
Receivables turnover		11.51	11.98	14.39	17.94	14.75	14.66	10.72	10.01	10.91	10.92	8.83	7.04	10.63	13.60	21.10	19.69	12.05	13.66	12.46	13.86

December 31, 2023 calculation

Receivables turnover = Revenue (ttm) ÷ Receivables
= $144,216,000K ÷ $12,525,000K
= 11.51

The receivables turnover ratio for Valero Energy Corp. has shown fluctuations over the past eight quarters. The ratio measures how efficiently the company is able to collect its accounts receivable during a specific period. A higher turnover ratio indicates that the company is collecting its receivables more efficiently.

In Q1 2023, Valero Energy Corp. had a receivables turnover ratio of 17.99, which was the highest among all the quarters provided. This suggests that the company was able to collect its accounts receivable at a faster rate during that period.

The second highest ratio was in Q2 2023, at 14.43, indicating another period of efficient collections. In Q3 2023, the ratio slightly decreased to 12.02, but remained relatively strong.

On the other hand, the lowest ratio was in Q1 2022, at 10.07, which implies that the company took longer to collect its receivables during that period.

Overall, the trend in the receivables turnover ratio for Valero Energy Corp. has been relatively positive, with some fluctuations quarter to quarter. A potential analysis may involve investigating any specific factors or strategies that contributed to the fluctuations in the turnover ratio during the given periods.