Dominion Energy Inc (D)
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 | 4,184,000 | 5,978,000 | 6,111,000 | 6,113,000 | 6,069,000 | 3,958,000 | 3,622,000 | 3,839,000 | 3,848,000 | 3,942,000 | 5,269,000 | 5,582,000 | 6,347,000 | 6,541,000 | 5,599,000 | 5,396,000 | 5,336,000 | 5,282,000 | 4,978,000 | 4,350,000 |
| Payables | US$ in thousands | 921,000 | 756,000 | 997,000 | 1,125,000 | 1,163,000 | 1,105,000 | 1,130,000 | 1,090,000 | 1,197,000 | 851,000 | 774,000 | 848,000 | 944,000 | 738,000 | 797,000 | 842,000 | 1,023,000 | 791,000 | 787,000 | 920,000 |
| Payables turnover | 4.54 | 7.91 | 6.13 | 5.43 | 5.22 | 3.58 | 3.21 | 3.52 | 3.21 | 4.63 | 6.81 | 6.58 | 6.72 | 8.86 | 7.03 | 6.41 | 5.22 | 6.68 | 6.33 | 4.73 |
December 31, 2023 calculation
Payables turnover = Cost of revenue (ttm) ÷ Payables
= $4,184,000K ÷ $921,000K
= 4.54
Dominion Energy Inc's payables turnover ratio has shown fluctuations over the past eight quarters, ranging from 2.93 to 7.65. The payables turnover ratio measures how efficiently a company is managing its accounts payable by assessing how quickly it pays off its suppliers.
A higher payables turnover ratio generally indicates that a company is efficiently managing its payables by paying suppliers more quickly. In the case of Dominion Energy Inc, we see that the ratio experienced significant fluctuations, with Q3 2023 showing the highest turnover rate of 7.65, indicating that the company was more efficient in paying off its suppliers during that period.
On the other hand, Q4 2022 had the lowest payables turnover ratio of 2.93, suggesting that Dominion Energy Inc took longer to pay off its suppliers during that quarter. Overall, it would be beneficial for Dominion Energy Inc to aim for a more consistent payables turnover ratio to ensure efficient management of its accounts payable and maintain good relationships with its suppliers.
Peer comparison
Dec 31, 2023