ConocoPhillips (COP)
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 | 23,163,000 | 26,249,000 | 29,919,000 | 34,423,000 | 35,058,000 | 33,586,000 | 28,404,000 | 22,191,000 | 20,043,000 | 15,453,000 | 13,173,000 | 11,343,000 | 9,736,000 | 9,691,000 | 10,602,000 | 12,143,000 | 12,812,000 | 13,860,000 | 14,732,000 | 15,754,000 |
| Payables | US$ in thousands | — | — | — | 5,078,000 | 6,113,000 | 6,242,000 | 5,845,000 | 4,875,000 | 5,002,000 | 4,101,000 | 3,591,000 | 3,779,000 | 2,669,000 | 2,217,000 | 2,060,000 | 2,900,000 | 3,176,000 | 3,148,000 | 3,618,000 | 3,815,000 |
| Payables turnover | — | — | — | 6.78 | 5.73 | 5.38 | 4.86 | 4.55 | 4.01 | 3.77 | 3.67 | 3.00 | 3.65 | 4.37 | 5.15 | 4.19 | 4.03 | 4.40 | 4.07 | 4.13 |
December 31, 2023 calculation
Payables turnover = Cost of revenue (ttm) ÷ Payables
= $23,163,000K ÷ $—K
= —
Conoco Phillips' payables turnover ratio has exhibited fluctuation over the past eight quarters. The payables turnover ratio measures how efficiently a company manages its payables by comparing its cost of goods sold to its average accounts payable for a specific period. A higher payables turnover ratio indicates that the company is paying its suppliers more frequently, which can be a sign of efficient cash management.
Looking at the data provided:
- In Q1 2023 and Q2 2023, Conoco Phillips had the highest payables turnover ratios of 6.54 and 6.21, respectively. This suggests the company was able to pay its suppliers more frequently during these quarters.
- The payables turnover ratio dropped in Q3 2023 and Q4 2023 to 4.87 and 4.29, respectively. This decline may indicate a slower rate of paying suppliers compared to the previous quarters.
Overall, while the payables turnover ratio has shown variations, it indicates that Conoco Phillips has been managing its payables efficiently over the analyzed quarters. Further analysis of the company's financial performance and industry benchmarks would provide deeper insights into its payables management practices.
Peer comparison
Dec 31, 2023