CNX Resources Corp (CNX)

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	142,249	137,826	138,631	132,685	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
Payables	US$ in thousands	123,249	120,125	126,192	163,016	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
Payables turnover		1.15	1.15	1.10	0.81	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

December 31, 2024 calculation

Payables turnover = Cost of revenue (ttm) ÷ Payables
= $142,249K ÷ $123,249K
= 1.15

The payables turnover ratio of CNX Resources Corp has shown fluctuations over the observed period. It increased from 5.08 on March 31, 2020, to 7.32 on September 30, 2020, indicating an improvement in the company's ability to manage its payables efficiently. However, the ratio declined thereafter, reaching 0.77 on December 31, 2022. This significant decrease suggests that the company may be taking longer to pay its suppliers, which could impact its relationships and potentially indicate liquidity issues. Subsequently, the payables turnover ratio increased slightly, but remained relatively low at 1.15 on both September 30, 2024, and December 31, 2024. Overall, the downward trend in payables turnover raises concerns about CNX Resources Corp's payables management and liquidity position, warranting further investigation into its financial health and working capital management practices.