California Resources Corp (CRC)
Payables turnover
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Cost of revenue | US$ in thousands | 519,000 | 362,000 | 310,000 | 343,000 | 2,205,000 |
| Payables | US$ in thousands | 369,000 | 245,000 | 345,000 | 266,000 | 296,000 |
| Payables turnover | 1.41 | 1.48 | 0.90 | 1.29 | 7.45 |
December 31, 2024 calculation
Payables turnover = Cost of revenue ÷ Payables
= $519,000K ÷ $369,000K
= 1.41
The payables turnover of California Resources Corp has decreased over the years based on the provided data. In December 2019, the payables turnover was 7.45, indicating the company was able to manage its accounts payable effectively by paying off its suppliers about 7.45 times during that period. However, by December 2024, the payables turnover had decreased to 1.41, suggesting a decline in the efficiency of the company in paying its suppliers. A lower payables turnover ratio may imply potential liquidity issues or inefficient management of payables. Further analysis is required to understand the factors contributing to this downward trend in payables turnover and its impact on the company's financial performance.
Peer comparison
Dec 31, 2024