Brinks Company (BCO)

Payables turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Cost of revenue	US$ in thousands	3,707,100	3,461,900	3,235,800	2,877,300	2,832,100
Payables	US$ in thousands	249,700	296,500	211,200	206,000	184,500
Payables turnover		14.85	11.68	15.32	13.97	15.35

December 31, 2023 calculation

Payables turnover = Cost of revenue ÷ Payables
= $3,707,100K ÷ $249,700K
= 14.85

The payables turnover ratio for Brink's Co. has fluctuated over the past five years. In 2023, the payables turnover ratio increased to 14.85, indicating that the company is paying its suppliers approximately 14.85 times during the year, which is an improvement compared to the previous year. This suggests that Brink's Co. is managing its accounts payable more effectively in 2023. The trend over the past five years shows some variability, with the ratio peaking in 2021 at 15.32 and hitting a low in 2022 at 11.68. Overall, Brink's Co. has shown a relatively stable payables turnover ratio over the period, with occasional fluctuations that may warrant further investigation into the company's supplier relationships and payment processes.