Aptiv PLC (APTV)

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	18,438,000	18,268,000	17,738,000	16,896,000	16,342,000	16,058,000	15,346,000	14,914,000	14,579,000	14,469,000	13,890,000	12,146,000	11,126,000	10,602,000	10,463,000	11,474,000	11,711,000	11,769,000	11,721,000	11,721,000
Payables	US$ in thousands	3,151,000	3,056,000	3,028,000	2,996,000	3,150,000	2,775,000	2,749,000	2,910,000	2,953,000	2,544,000	2,574,000	2,624,000	2,571,000	2,186,000	1,432,000	2,243,000	2,463,000	2,232,000	2,284,000	2,340,000
Payables turnover		5.85	5.98	5.86	5.64	5.19	5.79	5.58	5.13	4.94	5.69	5.40	4.63	4.33	4.85	7.31	5.12	4.75	5.27	5.13	5.01

December 31, 2023 calculation

Payables turnover = Cost of revenue (ttm) ÷ Payables
= $18,438,000K ÷ $3,151,000K
= 5.85

Aptiv PLC's payables turnover ratio has shown a stable trend over the past eight quarters, ranging from 4.63 to 5.38. The payables turnover ratio indicates how efficiently the company is managing its trade payables. A higher payables turnover ratio suggests that the company is paying off its suppliers more quickly, which may indicate strong liquidity and good relationships with suppliers.

In Aptiv PLC's case, the payables turnover ratio has consistently been above 5, indicating that the company is efficiently managing its trade payables. This trend suggests that Aptiv PLC is able to quickly convert its payables into cash or assets, which could be a positive signal for the company's financial health and operational efficiency. However, it is important to consider industry benchmarks and compare with competitors to get a deeper understanding of the company's payables management performance.