EOG Resources Inc (EOG)

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	904,000	929,000	970,000	1,012,000	1,010,000	1,060,000	1,028,000	973,000	948,000	841,812	821,262	1,094,532	2,628,142	2,707,224	2,747,807	2,548,447	1,039,058	983,471	895,339	1,236,993
Payables	US$ in thousands	2,437,000	2,464,000	2,205,000	2,438,000	2,532,000	2,718,000	2,896,000	2,660,000	2,242,000	1,972,000	2,012,000	1,945,000	1,681,000	1,245,030	1,281,170	2,892,320	2,429,130	2,395,080	2,387,400	2,452,340
Payables turnover		0.37	0.38	0.44	0.42	0.40	0.39	0.35	0.37	0.42	0.43	0.41	0.56	1.56	2.17	2.14	0.88	0.43	0.41	0.38	0.50

December 31, 2023 calculation

Payables turnover = Cost of revenue (ttm) ÷ Payables
= $904,000K ÷ $2,437,000K
= 0.37

Based on the data provided, the payables turnover ratio for EOG Resources, Inc. in each of the listed quarters is recorded as 0.00. A payables turnover ratio of 0.00 indicates that EOG Resources, Inc. is not effectively managing its accounts payable during these periods. This could be a cause for concern as a low or zero payables turnover ratio may suggest inefficiencies or delays in payment to suppliers, potential liquidity issues, or an imbalance in the company's working capital management. It is recommended that further analysis be conducted to understand the reasons behind the consistently low payables turnover and to identify areas for improvement in the company's accounts payable processes.