ConAgra Foods Inc (CAG)
Payables turnover
| May 31, 2024 | May 26, 2024 | May 31, 2023 | May 28, 2023 | May 31, 2022 | ||
|---|---|---|---|---|---|---|
| Cost of revenue | US$ in thousands | 8,717,500 | 12,276,900 | 9,012,200 | 12,005,400 | 8,697,100 |
| Payables | US$ in thousands | — | 1,493,700 | — | 1,525,500 | — |
| Payables turnover | — | 8.22 | — | 7.87 | — |
May 31, 2024 calculation
Payables turnover = Cost of revenue ÷ Payables
= $8,717,500K ÷ $—K
= —
Based on the data provided, ConAgra Foods Inc's payables turnover has shown fluctuations over the years. The payables turnover ratio indicates how efficiently the company is managing its accounts payable.
In May 28, 2023, the payables turnover ratio was 7.87, which means the company converted its accounts payable into purchases 7.87 times during the year. This suggests that ConAgra Foods Inc is effectively managing its payables by quickly paying its vendors or suppliers.
In May 26, 2024, the payables turnover ratio improved to 8.22, indicating a further enhancement in the efficiency of managing its accounts payable compared to the previous year.
It is worth noting that there are missing data points for May 31, 2022, and May 31, 2023, which makes it challenging to provide a complete trend analysis. However, based on the available data, ConAgra Foods Inc seems to be improving its management of accounts payable, which can positively impact its cash flow and overall financial health.
Peer comparison
May 31, 2024