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