CNX Resources Corp (CNX)

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	133,348	134,831	142,847	148,576	147,532	153,786	141,811	135,264	129,166	180,041	175,667	173,602	644,019	856,000	861,268	873,856	390,822	126,308	112,011	110,243
Payables	US$ in thousands	147,361	185,951	164,177	195,867	191,343	169,406	154,449	120,513	121,751	107,266	118,574	114,535	118,185	117,004	148,345	171,890	202,553	308,003	305,070	230,371
Payables turnover		0.90	0.73	0.87	0.76	0.77	0.91	0.92	1.12	1.06	1.68	1.48	1.52	5.45	7.32	5.81	5.08	1.93	0.41	0.37	0.48

December 31, 2023 calculation

Payables turnover = Cost of revenue (ttm) ÷ Payables
= $133,348K ÷ $147,361K
= 0.90

Based on the provided data for CNX Resources Corp, the payables turnover ratio has consistently been reported as 0.00 for each quarter spanning from Q1 2022 to Q4 2023. A payables turnover ratio of 0.00 indicates that the company is not effectively utilizing its accounts payable to finance its operations or manage its cash flow. This could suggest that CNX Resources Corp is either paying its suppliers very quickly or not purchasing significant amounts on credit terms. It is crucial to investigate the reasons behind this low ratio to assess the company's working capital management and relationships with suppliers.