Apogee Enterprises Inc (APOG)
Payables turnover
| Mar 2, 2024 | Feb 25, 2023 | Feb 26, 2022 | Feb 27, 2021 | Feb 29, 2020 | ||
|---|---|---|---|---|---|---|
| Cost of revenue | US$ in thousands | 1,049,810 | 1,105,420 | 1,039,820 | 955,084 | 1,068,480 |
| Payables | US$ in thousands | 84,755 | 86,549 | 92,104 | 76,204 | 69,056 |
| Payables turnover | 12.39 | 12.77 | 11.29 | 12.53 | 15.47 |
March 2, 2024 calculation
Payables turnover = Cost of revenue ÷ Payables
= $1,049,810K ÷ $84,755K
= 12.39
The payables turnover ratio for Apogee Enterprises Inc has fluctuated over the past five years. The ratio measures how many times a company pays off its accounts payable during a specific period.
In the most recent fiscal year, ending on March 2, 2024, the payables turnover ratio was 12.39. This indicates that Apogee Enterprises Inc paid off its accounts payable approximately 12.39 times during the year.
Comparing this to the previous four years, we see a downward trend from 2020 to 2022 (15.47 to 11.29) before a slight uptick in 2023 (12.77) and then a slight decrease in 2024.
Overall, the payables turnover ratio for Apogee Enterprises Inc has shown some variability, but the company generally maintains a relatively high turnover rate, suggesting efficient management of accounts payable and liquidity.