California Resources Corp (CRC)
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 | 352,000 | 352,000 | 344,000 | 331,000 | 310,000 | 311,000 | 331,000 | 324,000 | 316,000 | 250,000 | 225,000 | 232,000 | 1,984,000 | 3,910,000 | 3,912,000 | 3,922,000 | 2,202,000 | 2,289,000 | 2,304,000 | 2,315,000 |
| Payables | US$ in thousands | 245,000 | 224,000 | 206,000 | 260,000 | 345,000 | 305,000 | 290,000 | 287,000 | 266,000 | 259,000 | 248,000 | 213,000 | 212,000 | 221,000 | 196,000 | 283,000 | 296,000 | 316,000 | 290,000 | 304,000 |
| Payables turnover | 1.44 | 1.57 | 1.67 | 1.27 | 0.90 | 1.02 | 1.14 | 1.13 | 1.19 | 0.97 | 0.91 | 1.09 | 9.36 | 17.69 | 19.96 | 13.86 | 7.44 | 7.24 | 7.94 | 7.62 |
December 31, 2023 calculation
Payables turnover = Cost of revenue (ttm) ÷ Payables
= $352,000K ÷ $245,000K
= 1.44
Based on the provided data, California Resources Corporation had a payables turnover ratio of 0.00 for all quarters in 2023 as well as the last quarter of 2022. A payables turnover ratio of 0.00 indicates that the company is either not utilizing its accounts payable effectively or there may be errors in the data.
A low or zero payables turnover ratio can signal that the company is not efficiently managing its accounts payable or is experiencing cash flow issues that are preventing it from paying its suppliers in a timely manner. It could also suggest that the company has extended its payment terms significantly, which could strain its relationships with suppliers.
It is important for California Resources Corporation to investigate the reasons behind the consistently low payables turnover ratio to improve its working capital management and vendor relationships. Further analysis and comparison with industry peers would provide more insights into the company's performance in managing its payables effectively.
Peer comparison
Dec 31, 2023