Coca-Cola Consolidated Inc. (COKE)
Payables turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Cost of revenue | US$ in thousands | 5,999,010 | 5,735,830 | 5,311,950 | 4,895,290 | 4,825,710 |
| Payables | US$ in thousands | — | 351,729 | 319,318 | 217,560 | 187,476 |
| Payables turnover | — | 16.31 | 16.64 | 22.50 | 25.74 |
December 31, 2023 calculation
Payables turnover = Cost of revenue ÷ Payables
= $5,999,010K ÷ $—K
= —
The payables turnover ratio for Coca-Cola Consolidated Inc has been relatively stable over the past five years, ranging from 7.62 to 10.66. This ratio indicates how efficiently the company is managing its accounts payable by measuring the number of times a company pays off its average accounts payable balance during a specific period.
A decreasing trend in payables turnover ratio could suggest that the company is taking longer to pay its suppliers, which may indicate problems with liquidity or potential cash flow issues. On the other hand, an increasing trend in the ratio could indicate that the company is paying off its suppliers more quickly, which could potentially strain cash resources or reflect negotiation power with suppliers.
In the case of Coca-Cola Consolidated Inc, the payables turnover ratio has fluctuated slightly but has remained within a relatively stable range. This suggests that the company has been managing its accounts payable efficiently over the past five years, maintaining a consistent payment schedule with its suppliers. However, further analysis in conjunction with other financial metrics would provide a more comprehensive understanding of the company's financial health and operational efficiency.
Peer comparison
Dec 31, 2023