California Resources Corp (CRC)
Payables turnover
| Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cost of revenue (ttm) | US$ in thousands | 296,000 | 408,000 | 348,000 | 341,000 | 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 |
| Payables | US$ in thousands | 369,000 | 351,000 | 248,000 | 251,000 | 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 |
| Payables turnover | 0.80 | 1.16 | 1.40 | 1.36 | 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 |
December 31, 2024 calculation
Payables turnover = Cost of revenue (ttm) ÷ Payables
= $296,000K ÷ $369,000K
= 0.80
The payables turnover ratio of California Resources Corp has fluctuated over the past few years, indicating changes in the company's ability to manage its accounts payable efficiently. The ratio peaked at 19.96 in June 30, 2020, demonstrating that the company was able to turn over its payables almost 20 times during that period. However, there was a significant decline in the ratio to 0.80 by December 31, 2024, suggesting a decrease in the efficiency of paying off its vendors or suppliers.
Overall, the downward trend in the payables turnover ratio from 2020 to 2024 indicates potential issues in managing the company's accounts payable, which may lead to liquidity challenges or strained relationships with suppliers. It is essential for California Resources Corp to analyze the reasons behind these fluctuations and take necessary steps to improve its payables management for a healthier financial position in the future.
Peer comparison
Dec 31, 2024