Eagle Materials Inc (EXP)

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	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019
Cost of revenue (ttm)	US$ in thousands	1,716,672	1,682,095	1,654,903	1,649,565	1,634,701	1,609,135	1,581,127	1,521,691	1,458,077	1,388,420	1,359,229	1,335,553	1,326,956	1,327,499	1,520,280	1,502,414	1,468,806	1,657,305	1,418,781	1,388,793
Payables	US$ in thousands	127,183	117,270	113,737	118,026	110,408	106,571	113,722	108,578	113,679	99,465	101,293	96,923	84,171	71,596	80,130	81,985	84,183	65,035	77,656	83,916
Payables turnover		13.50	14.34	14.55	13.98	14.81	15.10	13.90	14.01	12.83	13.96	13.42	13.78	15.77	18.54	18.97	18.33	17.45	25.48	18.27	16.55

March 31, 2024 calculation

Payables turnover = Cost of revenue (ttm) ÷ Payables
= $1,716,672K ÷ $127,183K
= 13.50

The payables turnover ratio for Eagle Materials Inc has shown fluctuations over the past 20 quarters, ranging from a low of 12.83 to a high of 25.48. The trend indicates that the company's ability to manage its accounts payable has varied over time.

Generally, a higher payables turnover ratio suggests that the company is paying off its suppliers more frequently, which can indicate effective management of working capital and cash flow. Conversely, a lower ratio may indicate that the company is taking longer to pay its suppliers, potentially straining relationships or missing out on early payment discounts.

Eagle Materials Inc's payables turnover has generally been in the mid to high range, demonstrating a relatively efficient management of its accounts payable. However, the fluctuations in the ratio over time suggest some variability in the company's payment practices. Further analysis and comparison with industry benchmarks could provide more insights into Eagle Materials Inc's management of payables over time.