APA Corporation (APA)
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 | 615,000 | 646,000 | 577,000 | 503,000 | 607,000 | 566,000 | 584,000 | 580,000 | 497,000 | 453,000 | 426,000 | 468,000 | 4,986,000 | 6,270,000 | 6,391,000 | 6,689,000 | 2,304,000 | 1,543,000 | 1,572,000 | 1,360,000 |
| Payables | US$ in thousands | 560,000 | 640,000 | — | 563,000 | 646,000 | 804,000 | 827,000 | 633,000 | 651,000 | 643,000 | 587,000 | 508,000 | 444,000 | 395,000 | 459,000 | 528,000 | 695,000 | 661,000 | 644,000 | 679,000 |
| Payables turnover | 1.10 | 1.01 | — | 0.89 | 0.94 | 0.70 | 0.71 | 0.92 | 0.76 | 0.70 | 0.73 | 0.92 | 11.23 | 15.87 | 13.92 | 12.67 | 3.32 | 2.33 | 2.44 | 2.00 |
December 31, 2023 calculation
Payables turnover = Cost of revenue (ttm) ÷ Payables
= $615,000K ÷ $560,000K
= 1.10
Based on the data provided, APA Corporation's payables turnover ratio has consistently been reported as 0.00 for each quarter from Q1 2022 to Q4 2023. This implies that the company is not effectively managing its accounts payable turnover during these periods.
A payables turnover ratio of 0.00 indicates that the company is taking an exceptionally long time to pay its suppliers, which could potentially strain relationships with vendors. It may also suggest inefficiencies in the company's working capital management or cash flow processes.
Further analysis and investigation into APA Corporation's payables management practices are warranted to understand the reasons behind the consistently low payables turnover, as this could impact the company's financial stability and vendor relationships in the long run.
Peer comparison
Dec 31, 2023