California Resources Corp (CRC)
Payables turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2019 | Dec 31, 2018 | ||
|---|---|---|---|---|---|---|
| Cost of revenue | US$ in thousands | 362,000 | 310,000 | 343,000 | 2,205,000 | 2,295,000 |
| Payables | US$ in thousands | 245,000 | 345,000 | 266,000 | 296,000 | 390,000 |
| Payables turnover | 1.48 | 0.90 | 1.29 | 7.45 | 5.88 |
December 31, 2023 calculation
Payables turnover = Cost of revenue ÷ Payables
= $362,000K ÷ $245,000K
= 1.48
The payables turnover ratio for California Resources Corporation for the years ending December 31, 2021, 2022, and 2023 was 0.00. This indicates that the company did not have any payables turnover during these years. A payables turnover ratio of 0.00 could suggest that the company did not have any accounts payable during these periods or had very minimal payables relative to its cost of goods sold.
A low or zero payables turnover ratio may indicate that the company is able to manage its payables efficiently or negotiate longer credit terms with its suppliers. Alternatively, it could imply that the company is experiencing financial difficulties or has difficulty in paying its suppliers on time. However, it is important to note that a zero payables turnover ratio should be interpreted cautiously and further analysis of the company's financial health and payment practices would be necessary to draw meaningful conclusions.
Peer comparison
Dec 31, 2023