Albany International Corporation (AIN)
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 | 945,136 | 893,385 | 858,990 | 840,973 | 820,990 | 792,231 | 773,606 | 748,463 | 721,132 | 709,219 | 696,034 | 685,430 | 660,659 | 637,055 | 638,925 | 643,103 | 656,413 | 659,013 | 651,520 | 646,502 |
| Payables | US$ in thousands | 87,104 | 70,105 | 65,812 | 76,241 | 69,707 | 65,378 | 70,430 | 64,501 | 68,954 | 54,397 | 55,348 | 54,533 | 49,173 | 46,740 | 50,181 | 58,874 | 65,203 | 60,994 | 61,899 | 74,050 |
| Payables turnover | 10.85 | 12.74 | 13.05 | 11.03 | 11.78 | 12.12 | 10.98 | 11.60 | 10.46 | 13.04 | 12.58 | 12.57 | 13.44 | 13.63 | 12.73 | 10.92 | 10.07 | 10.80 | 10.53 | 8.73 |
December 31, 2023 calculation
Payables turnover = Cost of revenue (ttm) ÷ Payables
= $945,136K ÷ $87,104K
= 10.85
To analyze Albany International Corp.'s payables turnover, we calculate the payables turnover ratio for each quarter based on the formula:
Payables Turnover = Cost of Goods Sold / Average Accounts Payable
Looking at the data provided, we observe fluctuations in the payables turnover ratio over the eight quarters presented. The payables turnover ratio ranged from a low of 8.31 in Q4 2023 to a high of 10.23 in Q2 2023.
A higher payables turnover ratio indicates that the company is paying off its suppliers more frequently within a given period, while a lower ratio implies a longer payment period. Albany International Corp. shows varying payment behaviors over the quarters, with some quarters indicating faster payments to suppliers and others reflecting a longer time taken to settle payables.
It is essential to further investigate the reasons behind these fluctuations to understand the company's cash management strategies, supplier relationships, and overall financial health. This analysis provides insights into Albany International Corp.'s efficiency in managing its payables and its liquidity position in relation to its suppliers.