Diamondback Energy Inc (FANG)
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 | 158,000 | 154,000 | 154,000 | 156,000 | 151,000 | 161,000 | 165,000 | 162,000 | 150,000 | 1,148,000 | 2,632,000 | 5,156,000 | 6,164,000 | 5,944,000 | 4,442,000 | 1,907,000 | 901,000 | 94,540 | 89,112 | 79,006 |
| Payables | US$ in thousands | 261,000 | 358,000 | 249,000 | 241,000 | 127,000 | 139,000 | 62,000 | 49,000 | 36,000 | 21,000 | 104,000 | 71,000 | 71,000 | 95,000 | 189,000 | 245,000 | 179,000 | 233,000 | 204,000 | 180,000 |
| Payables turnover | 0.61 | 0.43 | 0.62 | 0.65 | 1.19 | 1.16 | 2.66 | 3.31 | 4.17 | 54.67 | 25.31 | 72.62 | 86.82 | 62.57 | 23.50 | 7.78 | 5.03 | 0.41 | 0.44 | 0.44 |
December 31, 2023 calculation
Payables turnover = Cost of revenue (ttm) ÷ Payables
= $158,000K ÷ $261,000K
= 0.61
The payables turnover ratio for Diamondback Energy Inc is consistently recorded as 0.00 across all reported quarters from Q1 2022 to Q4 2023. This indicates that the company is not effectively utilizing its accounts payable to finance its operations or is not actively managing its trade payables. A payables turnover ratio of 0.00 may suggest that the company is potentially paying its suppliers too quickly or has very low levels of trade payables relative to its cost of goods sold. Further analysis and investigation into Diamondback Energy Inc's payables management practices and relationships with suppliers may be necessary to understand the reasons behind this consistently low ratio.
Peer comparison
Dec 31, 2023