Expedia Group Inc. (EXPE)
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 | 8,807,000 | 9,457,000 | 9,055,000 | 9,043,000 | 8,674,000 | 8,337,000 | 7,925,000 | 7,347,000 | 6,616,000 | 5,939,000 | 5,173,000 | 4,338,000 | 6,182,000 | 5,759,000 | 5,120,000 | 4,681,000 | 2,163,000 | 2,080,000 | 2,015,000 | 1,991,000 |
| Payables | US$ in thousands | 1,077,000 | 1,130,000 | 1,066,000 | 1,010,000 | 947,000 | 1,132,000 | 1,178,000 | 934,000 | 688,000 | 769,000 | 778,000 | 565,000 | 496,000 | 521,000 | 518,000 | 859,000 | 906,000 | 965,000 | 1,153,000 | 1,033,000 |
| Payables turnover | 8.18 | 8.37 | 8.49 | 8.95 | 9.16 | 7.36 | 6.73 | 7.87 | 9.62 | 7.72 | 6.65 | 7.68 | 12.46 | 11.05 | 9.88 | 5.45 | 2.39 | 2.16 | 1.75 | 1.93 |
December 31, 2023 calculation
Payables turnover = Cost of revenue (ttm) ÷ Payables
= $8,807,000K ÷ $1,077,000K
= 8.18
Expedia Group Inc's payables turnover has shown some variability over the past eight quarters. The payables turnover ratio measures how efficiently a company manages its trade payables by examining how many times during a period the company pays off its average accounts payable balance.
The trend in Expedia's payables turnover ratio indicates a general improvement from Q4 2022 to Q2 2023, with the ratio increasing from 0.62 to 0.59, and then to 0.67 in Q1 2023. This suggests that the company was more efficient in paying off its accounts payable during these periods.
However, a slight decrease was observed in Q3 2023 with a ratio of 0.55, followed by a further decline to 0.50 in Q4 2023. This downward trend could indicate potential delays in settling payables, which may have implications for the company's supplier relationships and cash flow management.
Overall, while Expedia's payables turnover ratio has fluctuated during the period analyzed, it is important for the company to closely monitor and manage its payables turnover to ensure efficient working capital management and maintain good relationships with its suppliers.
Peer comparison
Dec 31, 2023