Coca-Cola Consolidated Inc. (COKE)
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 | 5,996,380 | 5,945,350 | 5,886,260 | 5,827,920 | 5,733,860 | 5,650,850 | 5,537,520 | 5,403,600 | 5,307,900 | 5,175,130 | 5,080,000 | 4,910,350 | 4,876,310 | 4,825,350 | 4,815,390 | 4,879,960 | 4,821,560 | 4,790,810 | 4,741,890 | 4,737,400 |
| Payables | US$ in thousands | — | — | — | 310,435 | 351,729 | 323,352 | — | — | 319,318 | — | — | — | 217,560 | 234,715 | 216,138 | 209,694 | 187,476 | 191,780 | 181,418 | 168,526 |
| Payables turnover | — | — | — | 18.77 | 16.30 | 17.48 | — | — | 16.62 | — | — | — | 22.41 | 20.56 | 22.28 | 23.27 | 25.72 | 24.98 | 26.14 | 28.11 |
December 31, 2023 calculation
Payables turnover = Cost of revenue (ttm) ÷ Payables
= $5,996,380K ÷ $—K
= —
Coca-Cola Consolidated Inc's payables turnover has fluctuated over the past eight quarters. The company's payables turnover ratio, which measures how efficiently the company is managing its accounts payable, has ranged from 7.18 to 8.50.
The payables turnover was at its lowest in Q2 2023 at 7.18, indicating that the company took longer to pay its suppliers during that period. Conversely, the highest turnover was recorded in Q1 2022 at 8.50, suggesting that the company paid its suppliers more frequently during that quarter.
Overall, the average payables turnover ratio for Coca-Cola Consolidated Inc over the eight quarters is 7.59, indicating that, on average, the company takes approximately 7.59 times to pay off its accounts payable in a year. This suggests that the company generally manages its accounts payable efficiently. It is important to continue monitoring the trend in payables turnover to ensure the company's supply chain management remains effective and sustainable.
Peer comparison
Dec 31, 2023