CH Robinson Worldwide Inc (CHRW)

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	2,243,896	2,387,093	2,472,926	2,507,050	2,546,548	2,496,912	2,445,182	2,372,713	2,291,217	2,132,933	1,995,018	1,916,726	1,884,711	1,857,464	1,865,414	1,910,483	1,912,113	1,928,322	1,957,411	1,953,247
Payables	US$ in thousands	1,303,950	1,375,530	1,358,620	1,411,370	1,467,000	1,662,610	1,872,500	2,001,180	1,813,470	1,797,440	1,622,950	1,399,460	1,195,100	1,196,800	1,246,680	1,098,900	984,604	1,019,280	1,064,430	995,971
Payables turnover		1.72	1.74	1.82	1.78	1.74	1.50	1.31	1.19	1.26	1.19	1.23	1.37	1.58	1.55	1.50	1.74	1.94	1.89	1.84	1.96

December 31, 2023 calculation

Payables turnover = Cost of revenue (ttm) ÷ Payables
= $2,243,896K ÷ $1,303,950K
= 1.72

Based on the data provided, the payables turnover ratio for C.H. Robinson Worldwide, Inc. has been fluctuating over the past eight quarters. The payables turnover ratio measures how efficiently a company is managing its payments to suppliers.

The payables turnover ratio has been generally decreasing from Q4 2022 to Q1 2023, indicating that the company is taking longer to pay its suppliers. However, in Q2 2023, there was a notable increase in the payables turnover ratio, suggesting the company may have improved its efficiency in settling its payables.

Overall, the payables turnover ratio for C.H. Robinson Worldwide, Inc. has shown some variability, with Q1 2023 having the highest turnover at 13.55 and Q1 2022 the lowest at 10.87. It is essential for the company to monitor this ratio closely to ensure timely payments to suppliers while maintaining good relationships with them.