ChampionX Corporation (CHX)
Payables turnover
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Cost of revenue | US$ in thousands | 2,445,280 | 2,618,650 | 2,907,280 | 2,331,720 | 1,490,820 |
| Payables | US$ in thousands | 455,531 | 451,680 | 469,566 | 473,561 | 299,666 |
| Payables turnover | 5.37 | 5.80 | 6.19 | 4.92 | 4.97 |
December 31, 2024 calculation
Payables turnover = Cost of revenue ÷ Payables
= $2,445,280K ÷ $455,531K
= 5.37
To analyze ChampionX Corporation's payables turnover, we examine the trend from 2020 to 2024 as follows:
- In 2020, the payables turnover was 4.97, indicating that the company's payables were being converted into cash 4.97 times during the year.
- In 2021, the payables turnover slightly decreased to 4.92, suggesting a slight slowdown in the company's ability to convert payables into cash compared to the previous year.
- By the end of 2022, the payables turnover improved significantly to 6.19, showing that the company was more efficient in managing its payables and converting them into cash during the year.
- In 2023, although there was a slight decrease to 5.80 compared to 2022, the payables turnover remained relatively strong, reflecting continued efficiency in managing payables.
- In 2024, the payables turnover decreased further to 5.37, indicating a slight decline in the company's ability to convert payables into cash compared to the previous year but still at a reasonable level overall.
Overall, ChampionX Corporation has shown a generally positive trend in payables turnover from 2020 to 2024, with fluctuations in some years but maintaining a healthy level of efficiency in managing payables and generating cash flow.
Peer comparison
Dec 31, 2024