AbbVie Inc (ABBV)
Payables turnover
| Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cost of revenue (ttm) | US$ in thousands | 36,852,000 | 35,318,000 | 34,557,000 | 36,331,000 | 35,682,000 | 35,832,000 | 34,109,000 | 32,414,000 | 32,444,000 | 32,808,000 | 33,431,000 | 32,382,000 | 27,416,000 | 24,738,000 | 16,662,000 | 9,843,000 | 7,439,000 | 7,455,000 | 7,370,000 | 7,485,000 |
| Payables | US$ in thousands | 3,688,000 | — | — | — | 2,934,000 | — | — | — | 2,882,000 | — | — | — | 2,276,000 | — | — | — | 1,452,000 | — | — | — |
| Payables turnover | 9.99 | — | — | — | 12.16 | — | — | — | 11.26 | — | — | — | 12.05 | — | — | — | 5.12 | — | — | — |
December 31, 2023 calculation
Payables turnover = Cost of revenue (ttm) ÷ Payables
= $36,852,000K ÷ $3,688,000K
= 9.99
Based on the available data, Abbvie Inc's payables turnover ratio for Q4 2023 is 5.54. This indicates that in the most recent quarter, Abbvie Inc was able to turn over its accounts payable approximately 5.54 times during the period.
Unfortunately, we do not have data for the previous quarters of 2023 to conduct a trend analysis or make a year-over-year comparison. However, in Q4 2022, the payables turnover ratio was slightly higher at 5.94, suggesting that the company was managing its accounts payable more efficiently in the corresponding quarter of the previous year.
Overall, a high payables turnover ratio like 5.54 indicates that Abbvie Inc is efficiently managing its accounts payable by paying off its suppliers relatively quickly. However, further analysis and comparison with industry averages or company historical data would provide a more comprehensive assessment of the company's payables management efficiency.
Peer comparison
Dec 31, 2023