Canadian Natural Resources (TSX:CNQ) Receivables Turnover : 2.86 (As of Mar. 2024)

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What is Canadian Natural Resources Receivables Turnover?

The Receivables Turnover ratio measures the number of times a company collects its average accounts receivable balance. It is calculated as Revenue divided by average Accounts Receivable. An efficient company has a higher accounts receivable turnover ratio while an inefficient company has a lower ratio. Canadian Natural Resources's Revenue for the three months ended in Mar. 2024 was C$9,422 Mil. Canadian Natural Resources's average Accounts Receivable for the three months ended in Mar. 2024 was C$3,299 Mil. Hence, Canadian Natural Resources's Receivables Turnover for the three months ended in Mar. 2024 was 2.86.

Canadian Natural Resources Receivables Turnover Historical Data

The historical data trend for Canadian Natural Resources's Receivables Turnover can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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Canadian Natural Resources Receivables Turnover Chart

Canadian Natural Resources Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Receivables Turnover

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13.50

7.51

12.40

14.86

12.11

Canadian Natural Resources Quarterly Data
	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
Receivables Turnover	Get a 7-Day Free Trial															2.74	2.86	3.35	2.88	2.86

Competitive Comparison of Canadian Natural Resources's Receivables Turnover

For the Oil & Gas E&P subindustry, Canadian Natural Resources's Receivables Turnover, along with its competitors' market caps and Receivables Turnover data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Canadian Natural Resources's Receivables Turnover Distribution in the Oil & Gas Industry

For the Oil & Gas industry and Energy sector, Canadian Natural Resources's Receivables Turnover distribution charts can be found below:

* The bar in red indicates where Canadian Natural Resources's Receivables Turnover falls into.

Canadian Natural Resources Receivables Turnover Calculation

Receivables Turnover measures the number of times a company collects its average accounts receivable balance.

Canadian Natural Resources's Receivables Turnover for the fiscal year that ended in Dec. 2023 is calculated as

	Receivables Turnover (A: Dec. 2023 )
=	Revenue	/	Average Total Inventories
=	Revenue (A: Dec. 2023 )	/ (	(Accounts Receivable (A: Dec. 2022 )	+	Accounts Receivable (A: Dec. 2023 ))	/	count )
=	40835	/ (	(3555	+	3189)	/	2 )
=	40835	/	3372
=	12.11

Canadian Natural Resources's Receivables Turnover for the quarter that ended in Mar. 2024 is calculated as

	Receivables Turnover (Q: Mar. 2024 )
=	Revenue	/	Average Total Inventories
=	Revenue (Q: Mar. 2024 )	/ (	(Accounts Receivable (Q: Dec. 2023 )	+	Accounts Receivable (Q: Mar. 2024 ))	/	count )
=	9422	/ (	(3189	+	3408)	/	2 )
=	9422	/	3298.5
=	2.86

Canadian Natural Resources (TSX:CNQ) Receivables Turnover Explanation

An efficient company has a higher accounts receivable turnover ratio while an inefficient company has a lower ratio. This metric is commonly used to compare companies within the same industry to check whether they are on par with their competitors.

Canadian Natural Resources Receivables Turnover Related Terms

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Canadian Natural Resources (TSX:CNQ) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » Canadian Natural Resources Ltd (TSX:CNQ) » Definitions » Receivables Turnover

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Traded in Other Exchanges

CNQ:USA CRC:Germany CRC:Germany

Address

855 - 2nd Street South West, Suite 2100, Calgary, AB, CAN, T2P 4J8

Website

https://www.cnrl.com

Canadian Natural Resources Ltd is an independent crude oil and natural gas exploration, development, and production company. The Company's exploration and production operations are focused in North America, largely in Western Canada; the United Kingdom (UK) portion of the North Sea, and Cote d'Ivoire and South Africa in Offshore Africa. The Company's exploration and production activities are conducted in three geographic segments: North America, the North Sea, and Offshore Africa. These activities include the exploration, development, production, and marketing of crude oil, natural gas liquids, and natural gas. The company has two divisions; Oil Sands Mining and Upgrading Midstream and Refining. It derives a majority of its revenue from North America.

Executives