Fresh Del Monte Produce Inc (FDP)
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 | 3,970,000 | 3,982,200 | 4,019,000 | 4,086,500 | 4,102,100 | 4,121,300 | 4,111,700 | 4,012,100 | 3,948,300 | 3,936,700 | 3,903,200 | 3,885,200 | 3,951,400 | 3,973,200 | 4,044,800 | 4,173,000 | 4,182,600 | 4,198,400 | 4,221,300 | 4,273,600 |
| Payables | US$ in thousands | 279,500 | — | — | — | 325,400 | — | — | — | 350,400 | — | — | — | 295,400 | — | — | — | 308,600 | — | — | — |
| Payables turnover | 14.20 | — | — | — | 12.61 | — | — | — | 11.27 | — | — | — | 13.38 | — | — | — | 13.55 | — | — | — |
December 31, 2023 calculation
Payables turnover = Cost of revenue (ttm) ÷ Payables
= $3,970,000K ÷ $279,500K
= 14.20
The payables turnover ratio for Fresh Del Monte Produce Inc has shown a fluctuating trend over the past few years. The ratio indicates how efficiently the company is managing its accounts payable by paying off its suppliers.
In general, a higher payables turnover ratio is positive as it suggests that the company is paying its suppliers more frequently during the year. This could indicate good relationships with suppliers or efficient management of cash flows.
Looking at the available data, the payables turnover ratio has ranged between 11.27 and 14.20. The highest value of 14.20 at the end of 2023 indicates that Fresh Del Monte Produce Inc was able to pay off its suppliers approximately 14.20 times during that year, demonstrating a strong efficiency in managing its accounts payable.
However, it's also important to note the missing data points and consider the context in which the payables turnover ratio is changing to get a more comprehensive understanding of the company's financial performance.
Peer comparison
Dec 31, 2023