Enersys (ENS)
Payables turnover
| Mar 31, 2024 | 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 | Jul 5, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cost of revenue (ttm) | US$ in thousands | 125,030 | 122,639 | 97,529 | 96,494 | 93,743 | 2,698,309 | 2,708,648 | 2,715,216 | 2,713,858 | 135,952 | 133,965 | 116,140 | 80,312 | -132,319 | -273,923 | -419,536 | -568,741 | -579,678 | -571,431 | -535,802 |
| Payables | US$ in thousands | 369,456 | 342,066 | 322,805 | 343,336 | 378,641 | 345,255 | 344,941 | 343,340 | 393,096 | 317,585 | 294,975 | 293,377 | 323,876 | 269,019 | 252,667 | 242,955 | 281,873 | 278,821 | 276,926 | 302,808 |
| Payables turnover | 0.34 | 0.36 | 0.30 | 0.28 | 0.25 | 7.82 | 7.85 | 7.91 | 6.90 | 0.43 | 0.45 | 0.40 | 0.25 | -0.49 | -1.08 | -1.73 | -2.02 | -2.08 | -2.06 | -1.77 |
March 31, 2024 calculation
Payables turnover = Cost of revenue (ttm) ÷ Payables
= $125,030K ÷ $369,456K
= 0.34
Enersys' payables turnover ratio has shown significant fluctuations over the past few periods. The payables turnover ratio measures the efficiency with which Enersys is able to pay its suppliers. A higher payables turnover ratio generally indicates that the company is paying off its suppliers more quickly.
From March 2024 to September 2022, the payables turnover ratio was relatively consistent, ranging from 0.30 to 0.36. This suggests that Enersys was managing its payables effectively during this period.
However, in the following quarters from June 2022 to December 2021, the payables turnover ratio skyrocketed to unusually high levels, reaching as high as 7.91 in December 2022. This could indicate a significant change in payment practices or possibly a large one-time payment that impacted the ratio.
In contrast, in the subsequent periods from March 2021 to September 2019, the payables turnover ratio displayed negative values, indicating that Enersys was not effectively managing its payables during these quarters. Negative values for the payables turnover ratio can suggest delays in payment to suppliers, which may have various implications such as strained supplier relationships or missed early payment discounts.
Overall, the fluctuating trend in Enersys' payables turnover ratio highlights the importance of monitoring changes in payment practices and analyzing the impact on the company's financial performance and relationships with suppliers.
Peer comparison
Mar 31, 2024