The Clorox Company (CLX)
Payables turnover
| Jun 30, 2025 | Mar 31, 2025 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cost of revenue (ttm) | US$ in thousands | 3,891,000 | 3,851,000 | 3,975,000 | 4,151,000 | 4,050,000 | 4,183,000 | 4,250,000 | 4,221,000 | 4,481,000 | 4,457,000 | 4,502,000 | 4,540,000 | 4,562,000 | 4,563,000 | 4,410,000 | 4,282,000 | 4,142,000 | 4,062,000 | 4,006,000 | 3,811,000 |
| Payables | US$ in thousands | 838,000 | 2,016,000 | 1,460,000 | 1,472,000 | 950,000 | 1,653,000 | 1,649,000 | 1,678,000 | 1,021,000 | 1,722,000 | 1,588,000 | 1,583,000 | 960,000 | 1,575,000 | 1,540,000 | 1,582,000 | 930,000 | 1,445,000 | 1,377,000 | 1,395,000 |
| Payables turnover | 4.64 | 1.91 | 2.72 | 2.82 | 4.26 | 2.53 | 2.58 | 2.52 | 4.39 | 2.59 | 2.84 | 2.87 | 4.75 | 2.90 | 2.86 | 2.71 | 4.45 | 2.81 | 2.91 | 2.73 |
June 30, 2025 calculation
Payables turnover = Cost of revenue (ttm) ÷ Payables
= $3,891,000K ÷ $838,000K
= 4.64
The Payables Turnover ratio for The Clorox Company demonstrates notable fluctuations over the analyzed period. Beginning at 2.73 times as of September 30, 2020, the ratio experienced a steady increase reaching a peak of 4.75 times by June 30, 2022. This upward movement suggests a period during which the company was settling its accounts payable more frequently relative to its purchases, possibly indicating improved payment efficiency or strategic cash management.
Subsequently, the ratio declined to approximately 2.52 times as of September 30, 2023, indicating a reduction in the frequency of paying its payables or extended payment terms. This decline could reflect changes in supplier agreements, cash flow considerations, or a shift in procurement practices.
In the later months, there is a partial recovery trend, with the ratio rising again to 4.26 times by June 30, 2024, suggesting a temporary tightening in payment cycles or increased paying frequency. However, the ratio decreased once more to 2.72 times by December 31, 2024, before falling further to 1.91 times as of March 31, 2025, indicating that the company's payables are being settled less frequently or more slowly during this period.
Overall, the Payables Turnover ratio shows significant variability, reflecting changes in the company's payment policies, supplier relationships, or cash management strategies over time. The fluctuations may also be influenced by seasonal factors or broader economic conditions affecting the company's ability or willingness to expedite payments.