Exxon Mobil Corp (XOM)
Receivables turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 344,582,000 | 413,680,000 | 285,640,000 | 181,502,000 | 264,938,000 |
| Receivables | US$ in thousands | 38,015,000 | 41,749,000 | 32,383,000 | 20,581,000 | 26,966,000 |
| Receivables turnover | 9.06 | 9.91 | 8.82 | 8.82 | 9.82 |
December 31, 2023 calculation
Receivables turnover = Revenue ÷ Receivables
= $344,582,000K ÷ $38,015,000K
= 9.06
The receivables turnover ratio for Exxon Mobil Corp. has fluctuated over the past five years. The ratio indicates how efficiently the company is collecting payments from customers for the goods or services it has provided. A higher turnover ratio generally signifies that the company is collecting its accounts receivable more quickly.
In 2023, the receivables turnover ratio decreased to 8.90 from 9.63 in 2022. This decline may suggest that Exxon Mobil Corp. took longer to collect payments from its customers compared to the previous year. However, the ratio is still relatively high, indicating that the company effectively manages its receivables.
Looking back at the trend, the receivables turnover ratio was at its lowest in 2021 at 8.62, showing a small dip in efficiency in collecting receivables compared to the surrounding years. The ratio then slightly increased in 2022 and 2023 but remained below the 2019 peak of 9.62.
Overall, Exxon Mobil Corp. should continue to monitor and strive to improve its receivables turnover ratio to ensure timely collections and optimize its cash flow management.
Peer comparison
Dec 31, 2023