Duke Energy Corporation (DUK)
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 | 7,122,000 | 7,309,000 | 7,304,000 | 7,290,000 | 7,601,000 | 7,818,000 | 7,923,000 | 7,938,000 | 7,590,000 | 13,992,000 | 13,714,000 | 13,517,000 | 13,415,000 | 8,572,000 | 8,532,000 | 8,498,000 | 8,563,000 | 4,745,000 | 4,725,000 | 4,748,000 |
| Payables | US$ in thousands | 4,228,000 | 3,539,000 | 3,225,000 | 3,214,000 | 4,754,000 | 4,175,000 | 3,971,000 | 3,175,000 | 3,531,000 | 2,888,000 | 2,716,000 | 2,497,000 | 3,144,000 | 2,486,000 | 2,398,000 | 2,364,000 | 3,487,000 | 2,946,000 | 2,512,000 | 2,538,000 |
| Payables turnover | 1.68 | 2.07 | 2.26 | 2.27 | 1.60 | 1.87 | 2.00 | 2.50 | 2.15 | 4.84 | 5.05 | 5.41 | 4.27 | 3.45 | 3.56 | 3.59 | 2.46 | 1.61 | 1.88 | 1.87 |
December 31, 2023 calculation
Payables turnover = Cost of revenue (ttm) ÷ Payables
= $7,122,000K ÷ $4,228,000K
= 1.68
Duke Energy Corp.'s payables turnover ratio has shown fluctuations over the past eight quarters, ranging from a low of 2.07 to a high of 3.25. The payables turnover ratio measures how efficiently a company is managing its accounts payable by comparing the cost of goods sold to its average accounts payable balance. A higher ratio indicates that the company is paying off its suppliers more quickly.
In the most recent quarter, Q4 2023, Duke Energy Corp. had a payables turnover ratio of 2.29, which was lower than the previous quarter's ratio of 2.88. This decrease may indicate that the company is taking longer to pay off its suppliers, which could result from various factors such as changes in payment terms or cash flow constraints.
Overall, Duke Energy Corp.'s payables turnover ratios have been relatively stable, indicating consistent management of accounts payable. However, it is important for the company to monitor and potentially improve this ratio to ensure efficient working capital management and maintain good relationships with suppliers.
Peer comparison
Dec 31, 2023