Expand Energy Corporation (EXE)
Payables turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Cost of revenue | US$ in thousands | 148,000 | 164,000 | 120,000 | 8,894,000 | 376,000 |
| Payables | US$ in thousands | 425,000 | 603,000 | 308,000 | 346,000 | 498,000 |
| Payables turnover | 0.35 | 0.27 | 0.39 | 25.71 | 0.76 |
December 31, 2023 calculation
Payables turnover = Cost of revenue ÷ Payables
= $148,000K ÷ $425,000K
= 0.35
The payables turnover ratio for Expand Energy Corporation has fluctuated over the past five years, indicating varying efficiency in managing its accounts payable. In 2023, the payables turnover ratio was 0.35, which suggests that the company took approximately 0.35 times to pay off its suppliers during the year. This signifies a slight improvement from the previous year's ratio of 0.27. However, compared to 2021 and 2019, where the ratios were 0.39 and 0.76 respectively, the efficiency of paying off suppliers has decreased.
The sharp increase in the payables turnover ratio in 2020 to 25.71 indicates an anomaly or an exceptional event that significantly affected the company's accounts payable management during that year. It is essential for Expand Energy Corporation to continue monitoring and managing its payables turnover ratio effectively to ensure timely payments to suppliers while maintaining optimal cash flow management.
Peer comparison
Dec 31, 2023