The Cheesecake Factory (CAKE)

Payables turnover

Dec 31, 2024 Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 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
Cost of revenue (ttm) US$ in thousands 1,661,614 1,647,782 1,636,248 1,624,250 1,605,723 1,003,784 1,186,635 1,381,831 1,548,333 2,180,064 2,132,945 2,065,869 1,944,608 1,906,799 1,767,440 1,506,505 1,527,717 1,503,521 1,533,367 1,691,320
Payables US$ in thousands 62,092 62,663 68,644 61,383 63,152 53,392 72,682 57,001 66,638 59,030 58,927 61,741 54,086 52,890 55,377 56,047 58,432 61,549 57,532 55,894
Payables turnover 26.76 26.30 23.84 26.46 25.43 18.80 16.33 24.24 23.23 36.93 36.20 33.46 35.95 36.05 31.92 26.88 26.15 24.43 26.65 30.26

December 31, 2024 calculation

Payables turnover = Cost of revenue (ttm) ÷ Payables
= $1,661,614K ÷ $62,092K
= 26.76

The payables turnover ratio for The Cheesecake Factory, which measures how efficiently the company manages its accounts payable, has exhibited fluctuations over the periods provided. The ratio decreased from 30.26 on March 31, 2020, to 16.33 on June 30, 2023, indicating a potential delay in paying its suppliers during that period. However, the ratio recovered and showed an upward trend from then on, reaching 26.76 on December 31, 2024.

From a comparative perspective, the highest payables turnover was observed on September 30, 2022, at 36.93, reflecting a faster turnover of payables in that particular quarter. Conversely, the lowest ratio was recorded on June 30, 2023, at 16.33, signifying a slower turnaround of payables during that reporting period.

Overall, fluctuations in the payables turnover ratio of The Cheesecake Factory demonstrate varying levels of efficiency in managing its accounts payable and highlight the importance of analyzing trends over time to gauge the company's payment practices and supplier relationships.