Avis Budget Group Inc (CAR)
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 | 3,373,000 | 3,147,000 | 2,754,000 | 2,602,000 | 2,419,000 | 1,572,000 | 1,698,000 | 1,757,000 | 1,813,000 | 2,505,000 | 2,299,000 | 2,179,000 | 2,472,000 | 2,780,000 | 3,260,000 | 3,603,000 | 3,643,000 | 3,605,000 | 3,611,000 | 3,653,000 |
| Payables | US$ in thousands | 487,000 | 514,000 | 573,000 | 510,000 | 466,000 | 501,000 | 551,000 | 513,000 | 407,000 | 461,000 | 446,000 | 458,000 | 394,000 | 404,000 | 389,000 | 402,000 | 378,000 | 382,000 | 400,000 | 415,000 |
| Payables turnover | 6.93 | 6.12 | 4.81 | 5.10 | 5.19 | 3.14 | 3.08 | 3.42 | 4.45 | 5.43 | 5.15 | 4.76 | 6.27 | 6.88 | 8.38 | 8.96 | 9.64 | 9.44 | 9.03 | 8.80 |
December 31, 2023 calculation
Payables turnover = Cost of revenue (ttm) ÷ Payables
= $3,373,000K ÷ $487,000K
= 6.93
Based on the data provided, it appears that Avis Budget Group Inc has consistently reported a payables turnover ratio of 0.00 across all quarters spanning from Q1 2022 to Q4 2023. A payables turnover ratio of 0.00 indicates that the company is not utilizing its accounts payable to finance its operations effectively or that there might be issues with the recording of payables. It is essential to investigate further into the company's payables management and financial reporting practices to understand why the payables turnover ratio remains at such low levels consistently. A low or zero payables turnover ratio may suggest that the company is not efficiently managing its trade payables or is not benefiting from potential supplier credit terms. Further analysis and comparison with industry benchmarks would provide more insights into Avis Budget Group Inc's payables management efficiency and financial health.
Peer comparison
Dec 31, 2023