Coterra Energy Inc (CTRA)
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 | 966,000 | 946,000 | 922,000 | 882,000 | 868,000 | 855,000 | 864,000 | 879,000 | 892,000 | 1,351,872 | 1,213,324 | 1,049,515 | 863,671 | 440,673 | 398,680 | 400,078 | 404,596 | 181,513 | 174,626 | 175,019 |
| Payables | US$ in thousands | 833,000 | 773,000 | 775,000 | 788,000 | 803,000 | 643,000 | 626,000 | 833,000 | 844,000 | 1,010,000 | 1,044,000 | 874,000 | 747,000 | 227,192 | 166,256 | 169,101 | 162,000 | 151,662 | 161,657 | 183,816 |
| Payables turnover | 1.16 | 1.22 | 1.19 | 1.12 | 1.08 | 1.33 | 1.38 | 1.06 | 1.06 | 1.34 | 1.16 | 1.20 | 1.16 | 1.94 | 2.40 | 2.37 | 2.50 | 1.20 | 1.08 | 0.95 |
December 31, 2024 calculation
Payables turnover = Cost of revenue (ttm) ÷ Payables
= $966,000K ÷ $833,000K
= 1.16
The payables turnover ratio measures how efficiently a company is managing its accounts payable by calculating the number of times a company pays off its suppliers during a specific period.
In the case of Coterra Energy Inc, the payables turnover ratio has shown some fluctuation over the past few quarters. From March 2020 to June 2020, the ratio increased from 0.95 to 1.08, indicating a slight improvement in the company's ability to pay off its suppliers. Subsequently, the ratio continued to increase steadily, reaching its peak at 2.50 by December 2020, suggesting that Coterra Energy was turning over its accounts payable 2.50 times during that period.
However, from March 2021 to June 2024, the payables turnover ratio fluctuated within a range of 1.06 to 2.40, indicating some variability in the company's payment behavior towards its suppliers. The ratio generally stayed above 1, which demonstrates that Coterra Energy is managing to pay off its suppliers at least once per year.
Overall, the trend of the payables turnover ratio for Coterra Energy Inc shows some variability, with periods of improvement followed by fluctuations. It would be important for stakeholders to monitor this ratio over time to assess the company's efficiency in managing its accounts payable effectively.
Peer comparison
Dec 31, 2024