CVR Energy Inc (CVI)
Payables turnover
| Dec 31, 2024 | Sep 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 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cost of revenue (ttm) | US$ in thousands | 7,538,000 | 7,686,000 | 7,761,000 | 7,974,000 | 8,323,000 | 8,845,000 | 9,569,000 | 9,766,000 | 9,409,000 | 8,525,000 | 7,567,000 | 7,023,000 | 6,206,000 | 5,560,000 | 4,449,000 | 4,120,000 | 4,368,000 | 4,768,000 | 5,609,000 | 5,662,000 |
| Payables | US$ in thousands | 538,000 | 464,000 | 551,000 | 530,000 | 566,000 | 466,000 | 512,000 | 497,000 | 557,000 | 666,000 | 709,000 | 409,000 | 409,000 | 432,000 | 417,000 | 282,000 | 242,000 | 236,000 | 344,000 | 412,000 |
| Payables turnover | 14.01 | 16.56 | 14.09 | 15.05 | 14.70 | 18.98 | 18.69 | 19.65 | 16.89 | 12.80 | 10.67 | 17.17 | 15.17 | 12.87 | 10.67 | 14.61 | 18.05 | 20.20 | 16.31 | 13.74 |
December 31, 2024 calculation
Payables turnover = Cost of revenue (ttm) ÷ Payables
= $7,538,000K ÷ $538,000K
= 14.01
The payables turnover ratio for CVR Energy Inc has exhibited fluctuations over the period from December 31, 2019, to December 31, 2024. The ratio increased from 13.74 on December 31, 2019, to a peak of 20.20 on June 30, 2020, indicating that the company was able to pay off its accounts payable more frequently during this period.
Subsequently, the payables turnover ratio declined to 10.67 on March 31, 2021, suggesting that the rate at which the company was paying off its suppliers decreased. However, the ratio increased again to 17.17 on December 31, 2021, before experiencing some fluctuation in the following periods.
Overall, the payables turnover ratio for CVR Energy Inc seems to have settled in the range of 14 to 19 in the most recent periods, indicating a moderate ability to manage and pay off its accounts payable efficiently. Further analysis of the company's payables structure and payment policies would be necessary to fully understand the factors driving these fluctuations in the payables turnover ratio.
Peer comparison
Dec 31, 2024