Dine Brands Global Inc (DIN)

Payables turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Cost of revenue	US$ in thousands	434,384	532,044	520,942	440,552	527,364
Payables	US$ in thousands	36,193	52,067	55,956	37,424	40,925
Payables turnover		12.00	10.22	9.31	11.77	12.89

December 31, 2023 calculation

Payables turnover = Cost of revenue ÷ Payables
= $434,384K ÷ $36,193K
= 12.00

Dine Brands Global Inc's payables turnover has shown a declining trend over the past five years. The payables turnover ratio decreased from 10.67 in 2019 to 3.54 in 2023. This suggests that the company is taking longer to pay its suppliers in recent years, which may indicate potential liquidity issues or changes in the company's payment policies. A lower payables turnover ratio can also imply decreased efficiency in managing its accounts payable. Further analysis of the company's financial statements and industry benchmarks is recommended to understand the underlying reasons for the decreasing trend in payables turnover.