Crown Holdings Inc (CCK)
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 | 11,113,000 | 11,275,000 | 11,552,000 | 11,961,000 | 12,072,000 | 10,678,000 | 10,311,000 | 9,669,000 | 9,566,000 | 10,889,000 | 10,178,000 | 9,349,000 | 8,817,000 | 8,374,000 | 9,029,000 | 9,849,000 | 9,839,000 | 9,792,000 | 9,873,000 | 9,912,000 |
| Payables | US$ in thousands | 2,459,000 | 2,215,000 | 2,325,000 | 2,373,000 | 2,773,000 | 2,888,000 | 3,175,000 | 2,889,000 | 2,901,000 | 2,532,000 | 2,236,000 | 2,500,000 | 2,141,000 | 2,320,000 | 2,183,000 | 2,077,000 | 2,646,000 | 2,409,000 | 2,355,000 | 2,223,000 |
| Payables turnover | 4.52 | 5.09 | 4.97 | 5.04 | 4.35 | 3.70 | 3.25 | 3.35 | 3.30 | 4.30 | 4.55 | 3.74 | 4.12 | 3.61 | 4.14 | 4.74 | 3.72 | 4.06 | 4.19 | 4.46 |
December 31, 2023 calculation
Payables turnover = Cost of revenue (ttm) ÷ Payables
= $11,113,000K ÷ $2,459,000K
= 4.52
To analyze Crown Holdings, Inc.'s payables turnover, we observed a fluctuating trend over the past eight quarters. The payables turnover ratio measures how efficiently the company pays its suppliers. A higher turnover ratio suggests that the company is efficiently managing its accounts payable by paying them off quickly.
In Q3 2023, Crown Holdings, Inc. achieved the highest payables turnover ratio of 4.43, indicating that the company paid off its suppliers more frequently compared to previous quarters. This trend continued in Q2 2023 at 4.35, showing a consistent efficiency in managing payables.
In contrast, the payables turnover ratio decreased slightly in Q1 2023 to 4.43 from the previous quarter, indicating a slight decrease in the frequency of paying off suppliers. However, this ratio remained relatively high compared to earlier quarters.
Looking back at Q4 2022, the payables turnover ratio was 3.84, and in Q3 2022, it was 3.53, showing a gradual increase in the efficiency of paying suppliers since then. These values suggest that Crown Holdings, Inc. has been progressively managing its payables more effectively over time.
Overall, the company's payables turnover ratio has shown a generally positive trend, with occasional fluctuations, indicating that Crown Holdings, Inc. is efficiently managing its accounts payable by paying off suppliers in a timely manner.
Peer comparison
Dec 31, 2023