WEC Energy Group Inc (WEC)

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	8,893,000	9,233,900	9,279,500	9,577,400	9,597,400	9,240,900	8,984,400	8,532,700	8,316,000	8,047,500	7,952,000	7,824,500	7,241,700	7,255,800	7,212,800	7,254,300	7,523,100	7,652,400	7,688,100	7,770,400
Receivables	US$ in thousands	1,503,200	1,243,200	1,315,100	1,780,600	1,818,400	1,321,800	1,447,700	1,635,700	1,505,700	1,103,800	1,182,700	1,369,900	1,202,800	911,800	957,900	1,176,900	1,176,500	-137,800	-143,300	-163,200
Receivables turnover		5.92	7.43	7.06	5.38	5.28	6.99	6.21	5.22	5.52	7.29	6.72	5.71	6.02	7.96	7.53	6.16	6.39	—	—	—

December 31, 2023 calculation

Receivables turnover = Revenue (ttm) ÷ Receivables
= $8,893,000K ÷ $1,503,200K
= 5.92

The receivables turnover ratio for WEC Energy Group Inc has shown fluctuations over the past eight quarters. The ratio indicates how many times, on average, the company collects its accounts receivable during a period. A higher turnover ratio indicates a more efficient collection process.

In the latest quarter, Q4 2023, the receivables turnover ratio was 5.92, down from the previous quarter's ratio of 7.43 in Q3 2023. This decrease suggests that the company took longer to collect its accounts receivable in Q4 2023 compared to the prior quarter.

Looking at the trend over the past two years, the receivables turnover ratio has varied between 5.22 and 7.43. While there have been fluctuations, the ratio has generally stayed within a relatively narrow range, indicating a consistent approach to managing accounts receivable.

Overall, a detailed analysis of the receivables turnover ratio for WEC Energy Group Inc shows that the company has been able to maintain a reasonable level of efficiency in collecting its accounts receivable, with some variability from quarter to quarter. Monitoring this ratio can help assess the effectiveness of the company's credit and collection policies.