Crescent Energy Co (CRGY)

Payables turnover

		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
Cost of revenue (ttm)	US$ in thousands	452,744	336,898	330,924	308,358	286,693	260,173	238,663	238,032	131,749
Payables	US$ in thousands	—	—	138,478	125,010	—	—	93,110	104,343	138,922	147,969	100,058	87,336
Payables turnover		—	—	2.39	2.47	—	—	2.56	2.28	0.95

September 30, 2024 calculation

Payables turnover = Cost of revenue (ttm) ÷ Payables
= $452,744K ÷ $—K
= —

The payables turnover ratio for Crescent Energy Co has shown fluctuation over the past few quarters. In Mar 31, 2024, the payables turnover was 2.39, indicating that the company converted its accounts payable into cash 2.39 times during the period. This ratio increased to 2.47 in Jun 30, 2024, showing a slight improvement in the efficiency of managing payables.

The trend in payables turnover suggests that Crescent Energy Co may be managing its payments to suppliers more effectively in the recent quarters compared to previous periods. A higher payables turnover ratio generally indicates that the company is paying off its suppliers more quickly, which can be beneficial in terms of building good relationships and potentially negotiating better terms in the future.

However, it is important to note that the payables turnover ratio alone may not provide a complete picture of the company's financial health, and it should be analyzed along with other financial ratios and metrics for a more comprehensive assessment.