Crane NXT Co (CXT)
Payables turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Cost of revenue | US$ in thousands | 1,140,400 | 2,884,700 | 2,167,000 | 1,971,800 | 1,895,500 |
| Payables | US$ in thousands | 106,500 | 109,600 | 273,700 | 198,900 | 311,100 |
| Payables turnover | 10.71 | 26.32 | 7.92 | 9.91 | 6.09 |
December 31, 2023 calculation
Payables turnover = Cost of revenue ÷ Payables
= $1,140,400K ÷ $106,500K
= 10.71
The payables turnover ratio for Crane NXT Co has fluctuated over the past five years. In 2023, the company's payables turnover was 10.71, indicating that the company takes approximately 10.71 days to pay its suppliers. This represents a decrease from the previous year's ratio of 26.32, suggesting that the company extended its payment period to suppliers.
Comparing to 2021 and 2020, the payables turnover ratios were 7.92 and 9.91 respectively, showing an increase in payment efficiency in 2020. However, the 2019 ratio of 6.09 indicates that the company was taking longer to pay its suppliers compared to 2020.
Overall, trends in the payables turnover ratio reflect changes in Crane NXT Co's payment practices with its suppliers, with fluctuations seen in recent years.
Peer comparison
Dec 31, 2023