Chuy's Holdings Inc (CHUY)

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	300,360	294,239	291,544	288,792	281,303	272,967	268,945	262,427	253,010	241,674	228,186	202,325	230,707	184,464	213,417	250,093	236,339	196,369	196,153	191,534
Payables	US$ in thousands	5,561	5,917	5,219	7,043	8,059	6,634	5,735	5,327	4,127	4,450	4,310	4,403	2,977	3,670	5,622	6,196	4,253	4,763	5,671	4,034
Payables turnover		54.01	49.73	55.86	41.00	34.91	41.15	46.90	49.26	61.31	54.31	52.94	45.95	77.50	50.26	37.96	40.36	55.57	41.23	34.59	47.48

December 31, 2023 calculation

Payables turnover = Cost of revenue (ttm) ÷ Payables
= $300,360K ÷ $5,561K
= 54.01

Chuy's Holdings Inc has shown fluctuating payables turnover ratios over the past eight quarters. The payables turnover ratio indicates how efficiently the company is managing its accounts payable by calculating how many times the company pays off its suppliers during a certain period.

The payables turnover ratio for Q4 2023 was 20.84, which represents a significant increase compared to the previous quarter's ratio of 19.49. This indicates that Chuy's Holdings Inc improved its efficiency in paying off its suppliers in Q4 2023.

Looking further back, the payables turnover ratios for Q2 2023 and Q1 2023 were 22.21 and 16.67, respectively. This suggests a fluctuation in the company's ability to manage its payables efficiently during these quarters.

Comparing the latest ratio to Q4 2022, where the company reported a ratio of 14.26, we can observe a notable improvement in managing payables within a year.

Overall, the trend in Chuy's Holdings Inc's payables turnover ratios fluctuates over the quarters, but there is a general indication of improving efficiency in managing accounts payable, as seen in the latest quarter's results.