Chord Energy Corp (CHRD)

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	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019	Dec 31, 2018
Cost of revenue (ttm)	US$ in thousands	771,314	776,495	833,358	721,096	581,355	528,172	304,413	257,667	209,211	114,344	134,592	4,970,000	4,984,862	4,985,570	4,977,408	157,594	151,959	133,264	514,029	598,698
Payables	US$ in thousands	34,453	2,603	13,879	7,909	29,056	32,709	3,270	1,738	2,136	5,522	4,867	6,492	1,298	5,131	14,902	17,948	18,003	15,155	10,172	20,166
Payables turnover		22.39	298.31	60.04	91.17	20.01	16.15	93.09	148.25	97.95	20.71	27.65	765.56	3,840.42	971.66	334.01	8.78	8.44	8.79	50.53	29.69

December 31, 2023 calculation

Payables turnover = Cost of revenue (ttm) ÷ Payables
= $771,314K ÷ $34,453K
= 22.39

Based on the data provided, the payables turnover ratio for Chord Energy Corp has consistently been calculated as 0.00 across all quarters in the past two years. This indicates that the company is not effectively managing its accounts payable. A payables turnover ratio of zero suggests that the company is not utilizing its accounts payable efficiently to support its operations and manage cash flow.

This consistent trend of zero payables turnover may be a cause for concern, as it could imply that the company is not utilizing credit effectively, not taking advantage of trade credit terms, or not effectively managing its vendor relationships. It is essential for Chord Energy Corp to address this issue and improve its payables turnover ratio to ensure better working capital management and overall financial health.