Analysis of Short-term (Operating) Activity Ratios
Activity ratios measure how efficiently a company performs day-to-day tasks, such us the collection of receivables and management of inventory.
Short-term Activity Ratios (Summary)
Texas Pacific Land Corp., short-term (operating) activity ratios
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
| Short-term activity ratio | Description | The company |
|---|---|---|
| Receivables turnover | An activity ratio equal to revenue divided by receivables. | Texas Pacific Land Corp. receivables turnover ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023 not reaching 2021 level. |
| Payables turnover | An activity ratio calculated as cost of goods sold divided by payables. | Texas Pacific Land Corp. payables turnover ratio increased from 2021 to 2022 and from 2022 to 2023. |
| Working capital turnover | An activity ratio calculated as revenue divided by working capital. | Texas Pacific Land Corp. working capital turnover ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023. |
| Short-term activity ratio | Description | The company |
|---|---|---|
| Average receivable collection period | An activity ratio equal to the number of days in the period divided by receivables turnover. | Texas Pacific Land Corp. number of days of receivables outstanding improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023 not reaching 2021 level. |
| Average payables payment period | An estimate of the average number of days it takes a company to pay its suppliers; equal to the number of days in the period divided by payables turnover ratio for the period. |
Receivables Turnover
Texas Pacific Land Corp., receivables turnover calculation, comparison to benchmarks
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Revenues | 631,595) | 667,422) | 450,958) | 302,554) | 490,496) | |
| Accounts receivable and accrued receivables, net | 128,971) | 103,983) | 95,217) | 48,216) | 62,995) | |
| Short-term Activity Ratio | ||||||
| Receivables turnover1 | 4.90 | 6.42 | 4.74 | 6.27 | 7.79 | |
| Benchmarks | ||||||
| Receivables Turnover, Competitors2 | ||||||
| Chevron Corp. | 9.88 | 11.52 | 8.45 | 8.24 | 10.50 | |
| ConocoPhillips | 10.28 | 11.09 | 7.00 | 7.13 | 9.97 | |
| Exxon Mobil Corp. | 11.05 | 12.14 | 10.29 | 10.93 | 12.11 | |
| Occidental Petroleum Corp. | 8.84 | 8.56 | 6.17 | 8.42 | 3.20 | |
| Receivables Turnover, Sector | ||||||
| Oil, Gas & Consumable Fuels | 10.45 | 11.58 | 8.99 | 9.51 | 10.17 | |
| Receivables Turnover, Industry | ||||||
| Energy | 9.73 | 10.84 | 8.58 | 8.81 | 9.29 | |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Receivables turnover = Revenues ÷ Accounts receivable and accrued receivables, net
= 631,595 ÷ 128,971 = 4.90
2 Click competitor name to see calculations.
| Short-term activity ratio | Description | The company |
|---|---|---|
| Receivables turnover | An activity ratio equal to revenue divided by receivables. | Texas Pacific Land Corp. receivables turnover ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023 not reaching 2021 level. |
Payables Turnover
Texas Pacific Land Corp., payables turnover calculation, comparison to benchmarks
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Revenues | 631,595) | 667,422) | 450,958) | 302,554) | 490,496) | |
| Accounts payable and accrued expenses | 22,501) | 23,897) | 17,907) | 13,325) | 19,193) | |
| Short-term Activity Ratio | ||||||
| Payables turnover1 | 28.07 | 27.93 | 25.18 | 22.71 | 25.56 | |
| Benchmarks | ||||||
| Payables Turnover, Competitors2 | ||||||
| Chevron Corp. | 9.64 | 12.44 | 9.46 | 8.63 | 9.92 | |
| ConocoPhillips | 11.04 | 12.84 | 9.16 | 7.04 | 10.25 | |
| Exxon Mobil Corp. | 10.71 | 12.02 | 10.39 | 10.20 | 10.35 | |
| Occidental Petroleum Corp. | 7.75 | 9.09 | 6.66 | 5.96 | 2.91 | |
| Payables Turnover, Sector | ||||||
| Oil, Gas & Consumable Fuels | 10.21 | 12.04 | 9.70 | 9.08 | 9.16 | |
| Payables Turnover, Industry | ||||||
| Energy | 9.89 | 11.68 | 9.49 | 8.93 | 8.88 | |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Payables turnover = Revenues ÷ Accounts payable and accrued expenses
= 631,595 ÷ 22,501 = 28.07
2 Click competitor name to see calculations.
| Short-term activity ratio | Description | The company |
|---|---|---|
| Payables turnover | An activity ratio calculated as cost of goods sold divided by payables. | Texas Pacific Land Corp. payables turnover ratio increased from 2021 to 2022 and from 2022 to 2023. |
Working Capital Turnover
Texas Pacific Land Corp., working capital turnover calculation, comparison to benchmarks
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Current assets | 862,464) | 633,401) | 526,513) | 332,530) | 366,640) | |
| Less: Current liabilities | 44,387) | 39,595) | 50,900) | 21,376) | 24,464) | |
| Working capital | 818,077) | 593,806) | 475,613) | 311,154) | 342,176) | |
| Revenues | 631,595) | 667,422) | 450,958) | 302,554) | 490,496) | |
| Short-term Activity Ratio | ||||||
| Working capital turnover1 | 0.77 | 1.12 | 0.95 | 0.97 | 1.43 | |
| Benchmarks | ||||||
| Working Capital Turnover, Competitors2 | ||||||
| Chevron Corp. | 22.20 | 14.61 | 22.40 | 24.25 | 77.75 | |
| ConocoPhillips | 12.98 | 13.30 | 11.37 | 2.80 | 3.30 | |
| Exxon Mobil Corp. | 10.70 | 13.95 | 110.19 | — | — | |
| Occidental Petroleum Corp. | — | 32.45 | 13.76 | 29.88 | 5.46 | |
| Working Capital Turnover, Sector | ||||||
| Oil, Gas & Consumable Fuels | 13.85 | 14.33 | 31.83 | 9,639.25 | 248.54 | |
| Working Capital Turnover, Industry | ||||||
| Energy | 13.30 | 14.07 | 29.07 | 135.58 | 113.68 | |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Working capital turnover = Revenues ÷ Working capital
= 631,595 ÷ 818,077 = 0.77
2 Click competitor name to see calculations.
| Short-term activity ratio | Description | The company |
|---|---|---|
| Working capital turnover | An activity ratio calculated as revenue divided by working capital. | Texas Pacific Land Corp. working capital turnover ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023. |
Average Receivable Collection Period
Texas Pacific Land Corp., average receivable collection period calculation, comparison to benchmarks
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data | ||||||
| Receivables turnover | 4.90 | 6.42 | 4.74 | 6.27 | 7.79 | |
| Short-term Activity Ratio (no. days) | ||||||
| Average receivable collection period1 | 75 | 57 | 77 | 58 | 47 | |
| Benchmarks (no. days) | ||||||
| Average Receivable Collection Period, Competitors2 | ||||||
| Chevron Corp. | 37 | 32 | 43 | 44 | 35 | |
| ConocoPhillips | 36 | 33 | 52 | 51 | 37 | |
| Exxon Mobil Corp. | 33 | 30 | 35 | 33 | 30 | |
| Occidental Petroleum Corp. | 41 | 43 | 59 | 43 | 114 | |
| Average Receivable Collection Period, Sector | ||||||
| Oil, Gas & Consumable Fuels | 35 | 32 | 41 | 38 | 36 | |
| Average Receivable Collection Period, Industry | ||||||
| Energy | 38 | 34 | 43 | 41 | 39 | |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Average receivable collection period = 365 ÷ Receivables turnover
= 365 ÷ 4.90 = 75
2 Click competitor name to see calculations.
| Short-term activity ratio | Description | The company |
|---|---|---|
| Average receivable collection period | An activity ratio equal to the number of days in the period divided by receivables turnover. | Texas Pacific Land Corp. number of days of receivables outstanding improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023 not reaching 2021 level. |
Average Payables Payment Period
Texas Pacific Land Corp., average payables payment period calculation, comparison to benchmarks
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data | ||||||
| Payables turnover | 28.07 | 27.93 | 25.18 | 22.71 | 25.56 | |
| Short-term Activity Ratio (no. days) | ||||||
| Average payables payment period1 | 13 | 13 | 14 | 16 | 14 | |
| Benchmarks (no. days) | ||||||
| Average Payables Payment Period, Competitors2 | ||||||
| Chevron Corp. | 38 | 29 | 39 | 42 | 37 | |
| ConocoPhillips | 33 | 28 | 40 | 52 | 36 | |
| Exxon Mobil Corp. | 34 | 30 | 35 | 36 | 35 | |
| Occidental Petroleum Corp. | 47 | 40 | 55 | 61 | 126 | |
| Average Payables Payment Period, Sector | ||||||
| Oil, Gas & Consumable Fuels | 36 | 30 | 38 | 40 | 40 | |
| Average Payables Payment Period, Industry | ||||||
| Energy | 37 | 31 | 38 | 41 | 41 | |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Average payables payment period = 365 ÷ Payables turnover
= 365 ÷ 28.07 = 13
2 Click competitor name to see calculations.
| Short-term activity ratio | Description | The company |
|---|---|---|
| Average payables payment period | An estimate of the average number of days it takes a company to pay its suppliers; equal to the number of days in the period divided by payables turnover ratio for the period. |