ArcBest Corp (ARCB)

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	1,817,905	1,812,736	1,778,338	1,778,718	1,762,408	1,732,780	1,678,072	1,617,814	1,554,301	1,503,081	1,469,000	1,385,074	1,370,728	1,040,771	1,041,638	1,097,534	1,097,670	1,462,138	1,461,634	1,456,771
Payables	US$ in thousands	214,004	245,899	245,998	253,578	269,854	329,887	346,051	340,966	311,401	227,893	204,124	177,885	170,898	162,021	140,632	127,625	134,374	160,054	166,829	145,590
Payables turnover		8.49	7.37	7.23	7.01	6.53	5.25	4.85	4.74	4.99	6.60	7.20	7.79	8.02	6.42	7.41	8.60	8.17	9.14	8.76	10.01

December 31, 2023 calculation

Payables turnover = Cost of revenue (ttm) ÷ Payables
= $1,817,905K ÷ $214,004K
= 8.49

Based on the data provided, the payables turnover ratio for ArcBest Corp is consistently calculated as 0.00 for all quarters in the years 2022 and 2023. A payables turnover ratio of 0.00 typically indicates that the company is not effectively using its accounts payables to fund operations or that there may be issues with the accuracy of the financial data. It suggests that the company is either not purchasing goods or services on credit or is not paying its suppliers within the period being measured. This could potentially signal inefficiencies in the company's accounts payable management, liquidity challenges, or other underlying financial difficulties that warrant further investigation and analysis.