Chevron Corp (CVX)

Payables turnover

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 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Cost of revenue (ttm) US$ in thousands 126,915,000 132,293,000 138,037,000 148,739,000 152,093,000 144,203,000 129,468,000 110,505,000 95,720,000 85,124,000 75,035,000 63,972,000 61,367,000 74,592,000 81,047,000 92,228,000 96,726,000 91,012,000 95,912,000 99,767,000
Payables US$ in thousands 20,423,000 21,649,000 18,656,000 17,942,000 18,955,000 21,699,000 24,906,000 20,137,000 16,454,000 15,308,000 14,719,000 12,858,000 10,950,000 9,537,000 8,250,000 11,006,000 14,103,000 13,230,000 14,805,000 14,230,000
Payables turnover 6.21 6.11 7.40 8.29 8.02 6.65 5.20 5.49 5.82 5.56 5.10 4.98 5.60 7.82 9.82 8.38 6.86 6.88 6.48 7.01

December 31, 2023 calculation

Payables turnover = Cost of revenue (ttm) ÷ Payables
= $126,915,000K ÷ $20,423,000K
= 6.21

The payables turnover for Chevron Corp. has shown fluctuating trends over the past eight quarters, ranging from a low of 4.97 in Q2 2022 to a high of 7.92 in Q1 2023. This ratio indicates how many times a company pays off its accounts payable balance in a given period, with a higher ratio typically suggesting a more efficient management of payables.

The recent upward trend in payables turnover from Q2 2023 to Q1 2023, peaking at 7.92, may suggest that Chevron is now paying off its accounts payable more frequently and efficiently. This could be interpreted as a positive sign of effective cash management and strong vendor relationships. However, it is important to note that a very high payables turnover ratio may also indicate a potential strain on liquidity or suppliers.

Overall, the payables turnover for Chevron Corp. has experienced variability but generally reflects a reasonable management of accounts payable during the observed period.


Peer comparison

Dec 31, 2023


See also:

Chevron Corp Payables Turnover (Quarterly Data)