Bellring Brands LLC (BRBR)

Payables turnover

		Sep 30, 2023	Sep 30, 2022	Sep 30, 2021	Sep 30, 2020
Cost of revenue	US$ in thousands	1,136,600	949,700	860,900	650,300
Payables	US$ in thousands	89,000	93,800	91,900	56,700
Payables turnover		12.77	10.12	9.37	11.47

September 30, 2023 calculation

Payables turnover = Cost of revenue ÷ Payables
= $1,136,600K ÷ $89,000K
= 12.77

The payables turnover ratio measures how efficiently a company pays its suppliers. Bellring Brands Inc's payables turnover has demonstrated a consistent upward trend over the past five years. In 2019, the ratio was 8.79, which increased to 11.47 in 2020, then to 9.37 in 2021, further to 10.12 in 2022, and finally reached 12.77 in 2023. This indicates that the company has been improving its ability to manage its accounts payable and pay its suppliers more frequently. The increasing trend suggests that Bellring Brands Inc has been more efficient in managing its payables, which may reflect positively on its cash flow and working capital management.