Crescent Energy Co (CRGY)
Payables turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | ||
|---|---|---|---|---|
| Cost of revenue | US$ in thousands | 322,195 | 248,706 | 86,883 |
| Payables | US$ in thousands | 125,010 | 104,343 | 87,336 |
| Payables turnover | 2.58 | 2.38 | 0.99 |
December 31, 2023 calculation
Payables turnover = Cost of revenue ÷ Payables
= $322,195K ÷ $125,010K
= 2.58
The payables turnover ratio for Crescent Energy Co has shown an improving trend over the past three years. In 2021, the ratio stood at 0.99, indicating that the company took approximately 0.99 years to pay off its accounts payable. This ratio increased to 2.38 in 2022 and further improved to 2.58 in 2023.
A rising payables turnover ratio suggests that Crescent Energy Co is managing its accounts payable more efficiently, taking less time to settle its obligations to suppliers. This improvement may indicate better cash flow management, stronger vendor relationships, or more favorable payment terms negotiated with suppliers.
Overall, the increasing trend in the payables turnover ratio for Crescent Energy Co indicates improved liquidity and working capital management, which could positively impact the company's financial health and operational efficiency in the long run.
Peer comparison
Dec 31, 2023