Celsius Holdings Inc (CELH)
Payables turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Cost of revenue | US$ in thousands | 684,875 | 382,735 | 186,103 | 69,752 | 43,845 |
| Payables | US$ in thousands | 42,840 | 36,248 | 35,820 | 11,854 | 10,160 |
| Payables turnover | 15.99 | 10.56 | 5.20 | 5.88 | 4.32 |
December 31, 2023 calculation
Payables turnover = Cost of revenue ÷ Payables
= $684,875K ÷ $42,840K
= 15.99
Celsius Holdings Inc's payables turnover has shown a positive trend over the past five years, indicating efficiency in managing its accounts payables. The payables turnover ratio has increased from 4.32 in 2019 to 15.99 in 2023. This suggests that the company is paying off its suppliers more frequently in recent years. A higher payables turnover ratio may indicate that Celsius Holdings is effectively managing its cash flow by promptly settling its payables obligations. This improvement in payables turnover reflects positively on the company's liquidity position and relationships with suppliers.
Peer comparison
Dec 31, 2023
Company name
Symbol
Payables turnover
Celsius Holdings Inc
CELH
15.99
Coca-Cola Consolidated Inc.
COKE
—
Monster Beverage Corp
MNST
7.19
National Beverage Corp
FIZZ
9.75