Devon Energy Corporation (DVN)

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	448,000	446,000	441,000	439,000	428,000	440,000	452,000	473,000	675,000	678,000	715,000	687,000	3,737,000	4,386,000	5,065,000	5,825,000	3,455,000	7,202,000	6,547,000	7,273,000
Payables	US$ in thousands	1,982,000	2,246,000	2,042,000	2,201,000	2,365,000	2,571,000	2,776,000	2,248,000	1,956,000	1,980,000	1,517,000	1,473,000	904,000	977,000	782,000	1,061,000	1,158,000	1,213,000	1,294,000	1,453,000
Payables turnover		0.23	0.20	0.22	0.20	0.18	0.17	0.16	0.21	0.35	0.34	0.47	0.47	4.13	4.49	6.48	5.49	2.98	5.94	5.06	5.01

December 31, 2023 calculation

Payables turnover = Cost of revenue (ttm) ÷ Payables
= $448,000K ÷ $1,982,000K
= 0.23

Based on the data provided, the payables turnover ratio for Devon Energy Corp. is consistently reported as 0.00 across all quarters in 2022 and 2023. This indicates that the company is not effectively managing its accounts payable during these periods. A payables turnover ratio of 0.00 typically suggests that the company is not paying its suppliers or vendors in a timely manner, which could lead to strained relationships with creditors and potential disruptions in the supply chain. It may also indicate inefficiencies in the company's working capital management or potentially raise concerns about its liquidity position. Further investigation into the reasons behind the consistently low payables turnover ratio is warranted to identify any underlying issues and implement corrective measures.