Clearway Energy Inc Class C (CWEN)
Payables turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Cost of revenue | US$ in thousands | 473,000 | 435,000 | 451,000 | 366,000 | 337,000 |
| Payables | US$ in thousands | 130,000 | 55,000 | 74,000 | 72,000 | 74,000 |
| Payables turnover | 3.64 | 7.91 | 6.09 | 5.08 | 4.55 |
December 31, 2023 calculation
Payables turnover = Cost of revenue ÷ Payables
= $473,000K ÷ $130,000K
= 3.64
Clearway Energy Inc's payables turnover ratio has fluctuated over the past five years. The ratio was 2.94 in 2023, 5.65 in 2022, 2.49 in 2021, 4.11 in 2020, and 3.26 in 2019. A higher payables turnover ratio indicates that the company is paying off its suppliers more quickly, which could indicate strong liquidity or efficient cash management.
However, the significant variations in Clearway Energy Inc's payables turnover ratio over the years suggest inconsistencies in the company's payment practices. It is important to further investigate the reasons behind these fluctuations to assess the impact on the company's working capital management and relationships with suppliers.
Peer comparison
Dec 31, 2023