Commercial Metals Company (CMC)
Payables turnover
| Feb 29, 2024 | Nov 30, 2023 | Aug 31, 2023 | May 31, 2023 | Feb 28, 2023 | Nov 30, 2022 | Aug 31, 2022 | May 31, 2022 | Feb 28, 2022 | Nov 30, 2021 | Aug 31, 2021 | May 31, 2021 | Feb 28, 2021 | Nov 30, 2020 | Aug 31, 2020 | May 31, 2020 | Feb 29, 2020 | Nov 30, 2019 | Aug 31, 2019 | May 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cost of revenue (ttm) | US$ in thousands | 5,521,840 | 5,573,740 | 5,681,610 | 7,745,260 | 7,817,390 | 7,789,870 | 7,624,840 | 7,389,340 | 6,957,550 | 6,558,360 | 6,141,400 | 5,654,460 | 5,229,110 | 5,124,080 | 5,089,510 | 5,168,780 | 5,406,940 | 5,516,810 | 5,492,250 | 5,296,830 |
| Payables | US$ in thousands | 367,944 | 343,831 | 364,390 | 382,482 | 422,814 | 396,560 | 428,055 | 492,947 | 414,025 | 424,919 | 450,723 | 340,238 | 309,413 | 252,953 | 266,102 | 230,280 | 275,491 | 243,857 | 288,005 | 278,390 |
| Payables turnover | 15.01 | 16.21 | 15.59 | 20.25 | 18.49 | 19.64 | 17.81 | 14.99 | 16.80 | 15.43 | 13.63 | 16.62 | 16.90 | 20.26 | 19.13 | 22.45 | 19.63 | 22.62 | 19.07 | 19.03 |
February 29, 2024 calculation
Payables turnover = Cost of revenue (ttm) ÷ Payables
= $5,521,840K ÷ $367,944K
= 15.01
The payables turnover ratio for Commercial Metals Company has displayed some fluctuations over the past few quarters. The ratio was 15.01 on February 29, 2024, indicating that the company paid its accounts payable approximately 15 times during the year. This was a decrease from the previous quarter's ratio of 16.21 on November 30, 2023.
The highest payables turnover ratio in the provided data was observed on May 31, 2020, at 22.45, suggesting that the company managed to pay its suppliers more frequently during that period. Conversely, the lowest ratio was recorded on August 31, 2022, at 14.99, indicating a slower rate of paying off accounts payable during that specific quarter.
Overall, the payables turnover ratio for Commercial Metals Company has shown variability, which could be influenced by factors such as changes in payment terms with suppliers, inventory management practices, and overall financial performance. Further analysis and comparison with industry benchmarks may provide more insights into the company's payables management efficiency.
Peer comparison
Feb 29, 2024