Apogee Enterprises Inc (APOG)
Payables turnover
| Mar 2, 2024 | Nov 25, 2023 | Aug 26, 2023 | May 27, 2023 | Feb 25, 2023 | Nov 26, 2022 | Aug 27, 2022 | May 28, 2022 | Feb 26, 2022 | Nov 27, 2021 | Aug 28, 2021 | May 29, 2021 | Feb 27, 2021 | Nov 28, 2020 | Aug 29, 2020 | May 30, 2020 | Feb 29, 2020 | Nov 30, 2019 | Aug 31, 2019 | Jun 1, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cost of revenue (ttm) | US$ in thousands | 1,298,722 | 1,263,485 | 1,294,504 | 1,321,419 | 1,316,992 | 1,367,408 | 1,350,829 | 1,339,657 | 1,327,102 | 1,391,423 | 1,338,749 | 1,306,152 | 1,278,614 | 1,104,152 | 1,103,925 | 1,078,508 | 1,068,480 | 1,110,831 | 1,120,853 | 1,127,669 |
| Payables | US$ in thousands | 84,755 | 83,107 | 78,323 | 77,638 | 86,549 | 70,137 | 86,871 | 88,908 | 92,104 | 80,995 | 79,166 | 74,312 | 76,204 | 69,719 | 66,172 | 62,369 | 69,056 | 66,557 | 68,456 | 73,017 |
| Payables turnover | 15.32 | 15.20 | 16.53 | 17.02 | 15.22 | 19.50 | 15.55 | 15.07 | 14.41 | 17.18 | 16.91 | 17.58 | 16.78 | 15.84 | 16.68 | 17.29 | 15.47 | 16.69 | 16.37 | 15.44 |
March 2, 2024 calculation
Payables turnover = Cost of revenue (ttm) ÷ Payables
= $1,298,722K ÷ $84,755K
= 15.32
The payables turnover ratio for Apogee Enterprises Inc has fluctuated over the past few periods, ranging from 14.41 to 19.50. This ratio measures how efficiently the company is managing its accounts payable by evaluating how many times during a period its payables are paid off. A higher ratio indicates that the company is paying off its suppliers more frequently, which could suggest good liquidity and strong supplier relationships.
In the most recent period, the payables turnover ratio was 15.32, indicating that Apogee Enterprises Inc paid off its accounts payable approximately 15.32 times during that period. This suggests a consistent trend of managing payables efficiently and effectively.
It is important to consider industry benchmarks and trends over time when analyzing the payables turnover ratio. Further analysis, in conjunction with other financial indicators, would provide a more comprehensive understanding of Apogee Enterprises Inc's financial performance and operational effectiveness.