Exelon Corporation (EXC)
Payables turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Cost of revenue | US$ in thousands | 5,759,000 | 5,526,000 | 10,684,000 | 9,739,000 | 8,424,000 |
| Payables | US$ in thousands | — | 3,382,000 | 2,379,000 | 3,562,000 | 3,560,000 |
| Payables turnover | — | 1.63 | 4.49 | 2.73 | 2.37 |
December 31, 2023 calculation
Payables turnover = Cost of revenue ÷ Payables
= $5,759,000K ÷ $—K
= —
The payables turnover ratio for Exelon Corp. has fluctuated over the years as shown in the table. In 2023, the payables turnover ratio improved to 2.89 from 1.83 in 2022, indicating that the company took approximately 2.89 times to pay off its trade payables during the year. This suggests that Exelon managed its accounts payable more efficiently in 2023 compared to 2022.
Looking back to 2021, the payables turnover ratio was relatively high at 4.19, suggesting that the company was able to pay off its trade payables more frequently during that period. The decrease in the ratio in 2022 and subsequent increase in 2023 could indicate changes in the company's payment policies or liquidity conditions.
Comparing the latest figure to 2019 and 2020, where the payables turnover ratios were 4.35 and 3.95 respectively, it is evident that Exelon's payables turnover has declined in recent years. This trend may warrant further investigation into the company's working capital management practices and relationships with suppliers.
Overall, while the payables turnover ratio for Exelon Corp. in 2023 showed improvement from the previous year, the company's historical performance suggests some variability in managing its accounts payable efficiently.
Peer comparison
Dec 31, 2023