Cleveland-Cliffs Inc (CLF)
Payables turnover
| Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cost of revenue (ttm) | US$ in thousands | 19,869,000 | 20,395,000 | 20,889,000 | 21,317,000 | 21,439,000 | 21,428,000 | 21,589,000 | 21,563,000 | 21,097,000 | 20,043,000 | 18,962,000 | 17,455,000 | 16,464,000 | 14,229,700 | 11,522,700 | 8,904,100 | 5,506,500 | 3,723,000 | 2,528,700 | 1,718,500 |
| Payables | US$ in thousands | 2,008,000 | 1,983,000 | 2,080,000 | 2,051,000 | 2,099,000 | 2,076,000 | 2,116,000 | 2,173,000 | 2,186,000 | 2,361,000 | 2,594,000 | 2,271,000 | 2,073,000 | 1,828,000 | 1,665,000 | 1,743,000 | 1,575,000 | 710,700 | 504,800 | 825,300 |
| Payables turnover | 9.89 | 10.28 | 10.04 | 10.39 | 10.21 | 10.32 | 10.20 | 9.92 | 9.65 | 8.49 | 7.31 | 7.69 | 7.94 | 7.78 | 6.92 | 5.11 | 3.50 | 5.24 | 5.01 | 2.08 |
December 31, 2024 calculation
Payables turnover = Cost of revenue (ttm) ÷ Payables
= $19,869,000K ÷ $2,008,000K
= 9.89
Cleveland-Cliffs Inc's payables turnover has been showing a consistent increasing trend from March 31, 2020, with a ratio of 2.08, to December 31, 2024, where it reached 9.89. This indicates that the company is able to pay off its accounts payable more frequently over time, which could imply improved liquidity or better management of trade credit. The highest payables turnover ratio was observed on December 31, 2024, at 10.28, suggesting that the company managed to efficiently convert its payables into cash during that period. Overall, the increasing trend in payables turnover is a positive indicator of Cleveland-Cliffs Inc's ability to efficiently manage its accounts payable.
Peer comparison
Dec 31, 2024