Independence Contract Drilling Inc 's ability to collect its outstanding accounts receivable from its corporate clients, has improved in the third quarter 2024 to a ratio of 6.28, above the company average. This is a clear sign of healthy business climate in the Oil Well Services & Equipment industry and improving liquidity at their respective customers, during the third quarter 2024. Average receivable collection period, for the Independence Contract Drilling Inc in Sep 30 2024 quarter, has decreased to 58 days, compared to 59 days, in the Jun 30 2024 quarter.

If we take a look into Energy sector 75 other companies have achieved higher receivables turnover ratio. While total ranking has deteriorated relative to the period ending Sep 30 2024 from 2131 to 2137.

What is Receivable Turnover Ratio?
What is Independence Contract Drilling Inc Selling?

What is Receivable Turnover Ratio?

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ICDI Receivables Turnover Ratio	(Sep 30 2024) III. Quarter	(Jun 30 2024) II. Quarter	(Mar 31 2024) I. Quarter	(Dec 31 2023) IV. Quarter	(Sep 30 2023) III. Quarter
Y / Y Receivable Change	-20.83 %	-11.75 %	-35.02 %	-20.31 %	-20.88 %
Y / Y Revenue Change	-13.98 %	-23.12 %	-26.85 %	-23.94 %	-10.14 %
Receivable Turnover Ratio (TTM)	6.28	6.19	6.42	6.23	6.28
ICDI's Total Ranking	# 2137	# 2131	# 1662	# 1726	# 1662
Accounts Receivable average collection period days	58	59	57	59	58
Seq. Receivable Change	-30.14 %	12.01 %	-14.22 %	17.94 %	-22.13 %
Seq. Revenue Change	-12.31 %	-7.1 %	1.76 %	3.77 %	-21.63 %

Receivable Turnover Company Ranking
Within:	No.
Oil Well Services & Equipment Industry	# 6
Energy Sector	# 76
Overall Market	# 2137

Receivable Turnover Ratio Statistics
High	Average	Low
0.54	0.34	0.16
(Jun 30 2023)		(Jun 30 2021)

ICDI Company Profile • Back to ICDI Efficiency Comparisons • Compare ICDI Receivables Turnover Ratio to its Competitors

Financial Statements
Independence Contract Drilling Inc 's Accounts Receivable	$ 21 Millions	Visit ICDI's Balance sheet
Independence Contract Drilling Inc 's Sales TTM	$ 174 Millions	Visit ICDI's Income Statement
Sources of ICDI's Revenues		Visit ICDI's Sales by Geography

Other Accounts Receivable Turnover Ratios
Oil Well Services & Equipment Industry Accounts Receivable Turnover Trends and Statistics
Energy Sector Accounts Receivable Turnover Statistics
Accounts Receivables Turnover Trends for overall market
ICDI's Receivable Turnover Ratio versus Oil Well Services & Equipment Industry, Energy Sector and total Market
Highest Ranking Accounts Receivables Turnover
Lowest Ranking Accounts Receivables Turnover

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ICDI's Growth Rates	ICDI's Roa	ICDI's Inventory Turnover Ratio	ICDI's Dividend Comparisons
ICDI's Profitability Ratios	ICDI's Roi	ICDI's Asset Turnover Ratio	ICDI's Dividend Growth
ICDI's Valuation Ratios	ICDI's Roe	ICDI's Financial Strength Ratios	ICDI's Dividend Payout Ratio

Companies with similar Receivables Turnover Ratio for the quarter ending Sep 30 2024, within Energy Sector	Receivable Turnover Ratio	Revenues for 12 Months ending Sep 30 2024	Receivable at quarter ending Sep 30 2024
Crossamerica Partners Lp	20.72	$ 710.497 Millions	$ 34.287 Millions
Par Pacific Holdings Inc	19.23	$ 8,325.747 Millions	$ 432.942 Millions
Delek Us Holdings Inc	18.64	$ 13,740.800 Millions	$ 737.100 Millions
Ckx Lands Inc	17.90	$ 2.031 Millions	$ 0.113 Millions
Norris Industries Inc	17.72	$ 0.343 Millions	$ 0.019 Millions
World Kinect Corporation	16.95	$ 44,410.500 Millions	$ 2,620.650 Millions
Adams Resources and Energy Inc	16.71	$ 2,784.457 Millions	$ 166.648 Millions
Hnr Acquisition Corp	16.54	$ 20.679 Millions	$ 1.250 Millions
Phillips 66	15.42	$ 147,738.000 Millions	$ 9,579.250 Millions
Cnx Resources Corporation	14.79	$ 2,098.974 Millions	$ 141.892 Millions
Kosmos Energy Ltd	13.80	$ 1,785.562 Millions	$ 129.400 Millions
Range Resources Corporation	13.18	$ 2,731.802 Millions	$ 207.196 Millions
Highpeak Energy Inc	12.36	$ 1,135.761 Millions	$ 91.900 Millions
Us Energy Corp	12.25	$ 23.719 Millions	$ 1.935 Millions
Talos Energy Inc	12.25	$ 1,873.342 Millions	$ 152.955 Millions
Marathon Petroleum Corporation	12.01	$ 141,982.000 Millions	$ 11,819.250 Millions
Hess Midstream Lp	11.95	$ 1,456.100 Millions	$ 121.900 Millions
Peabody Energy Corp	11.23	$ 4,348.600 Millions	$ 387.150 Millions
California Resources Corp	11.20	$ 3,047.000 Millions	$ 272.000 Millions
Bkv Corporation	11.20	$ 137.779 Millions	$ 12.307 Millions
Seadrill Limited	11.02	$ 2,598.000 Millions	$ 235.750 Millions
Expand Energy Corporation	11.02	$ 4,182.000 Millions	$ 379.500 Millions
Valero Energy Corp	11.01	$ 134,539.000 Millions	$ 12,223.250 Millions
Coronado Global Resources Inc.	10.63	$ 2,629.725 Millions	$ 247.365 Millions
Conocophillips	10.53	$ 55,238.000 Millions	$ 5,245.250 Millions
Calumet Inc	10.48	$ 4,214.700 Millions	$ 402.300 Millions
Sm Energy Co	10.43	$ 2,446.764 Millions	$ 234.649 Millions
Riley Exploration Permian Inc	10.39	$ 407.315 Millions	$ 39.205 Millions
Gulfport Energy Corporation	10.17	$ 1,207.366 Millions	$ 118.712 Millions
Warrior Met Coal Inc	9.95	$ 1,640.413 Millions	$ 164.794 Millions

Date modified: 2026-06-22T14:32:39+00:00

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