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. Cleveland-Cliffs's Revenue for the
three
months ended in Mar. 2024 was $5,199 Mil. Cleveland-Cliffs's average Accounts Receivable for the
three
months ended in Mar. 2024 was $1,854 Mil.
Hence, Cleveland-Cliffs's Receivables Turnover for the
three
months ended in Mar. 2024 was 2.80.
Cleveland-Cliffs Receivables Turnover Historical Data
The historical data trend for Cleveland-Cliffs'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.
Competitive Comparison of Cleveland-Cliffs's Receivables Turnover
For the Steel subindustry, Cleveland-Cliffs'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.
Cleveland-Cliffs's Receivables Turnover Distribution in the Steel Industry
For the Steel industry and Basic Materials sector, Cleveland-Cliffs's Receivables Turnover distribution charts can be found below:
* The bar in red indicates where Cleveland-Cliffs's Receivables Turnover falls into.
Cleveland-Cliffs Receivables Turnover Calculation
Receivables Turnover measures the number of times a company collects its average accounts receivable balance.
Cleveland-Cliffs's Receivables Turnover for the fiscal year that ended in Dec. 2023 is calculated as
* 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.
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.
Cleveland-Cliffs Receivables Turnover Related Terms
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Cleveland-Cliffs (Cleveland-Cliffs) Business Description
Cleveland-Cliffs Inc is a flat-rolled steel producer and manufacturer of iron ore pellets in North America. It has one reportable segment -Steelmaking. It is vertically integrated from mined raw materials, direct reduced iron, and ferrous scrap to primary steelmaking and downstream finishing, stamping, tooling and tubing. It serves a diverse range of other markets due to its comprehensive offering of flat-rolled steel products. Geographically, it operates in the United States, Canada and other countries. The majority of revenue is from the United States. It is a supplier of steel to the automotive industry in North America.
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