Builders FirstSource Inc (BLDR)

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	15,258,810	15,437,030	16,284,530	17,878,400	19,195,000	19,381,360	19,321,570	18,668,560	17,866,610	16,085,300	13,482,540	10,327,050	8,043,440	7,409,080	7,104,850	7,072,960	6,900,600	6,955,370	7,095,190	7,290,420
Payables	US$ in thousands	881,384	1,032,090	1,061,960	938,938	803,479	1,087,990	1,265,460	1,563,330	1,093,370	1,004,520	1,318,450	1,123,800	600,357	651,332	554,394	551,548	436,823	499,360	516,897	471,338
Payables turnover		17.31	14.96	15.33	19.04	23.89	17.81	15.27	11.94	16.34	16.01	10.23	9.19	13.40	11.38	12.82	12.82	15.80	13.93	13.73	15.47

December 31, 2023 calculation

Payables turnover = Cost of revenue (ttm) ÷ Payables
= $15,258,810K ÷ $881,384K
= 17.31

Builders Firstsource Inc's payables turnover has shown variability over the past eight quarters. The ratio ranged from a low of 9.46 in Q1 2022 to a high of 18.65 in Q4 2022. The highest turnover occurred in the fourth quarter of 2022, indicating the company was able to pay off its payables more frequently during that period. Subsequently, a decreasing trend is observed until Q3 2023, where the ratio was 10.92. However, there was an improvement in Q4 2023, with the payables turnover increasing to 12.58.

Overall, the payables turnover ratio of Builders Firstsource Inc has shown some fluctuations but remained relatively healthy, suggesting efficient management of the company's accounts payable. Further analysis and comparison with industry benchmarks may provide a better understanding of the company's payables management efficiency.