Comstock Resources Inc (CRK)

Payables turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Cost of revenue	US$ in thousands	39,669	40,940	36,184	33,252	70,822
Payables	US$ in thousands	523,260	530,195	314,569	259,284	252,994
Payables turnover		0.08	0.08	0.12	0.13	0.28

December 31, 2023 calculation

Payables turnover = Cost of revenue ÷ Payables
= $39,669K ÷ $523,260K
= 0.08

The payable turnover ratio for Comstock Resources, Inc. has been consistently 0.00 for the past five years. This indicates that the company is not effectively managing its accounts payable. A low or zero payable turnover ratio may imply that the company is taking an extended time to pay its suppliers, which could potentially strain relationships with vendors. It is important for the company to assess its payables management practices and work towards improving efficiency in this area to better manage its working capital and maintain healthy supplier relationships.