National Beverage Corp (FIZZ)
Payables turnover
| Apr 30, 2025 | Jan 31, 2025 | Oct 31, 2024 | Jul 31, 2024 | Apr 30, 2024 | Apr 27, 2024 | Jan 31, 2024 | Jan 27, 2024 | Oct 31, 2023 | Oct 28, 2023 | Jul 31, 2023 | Jul 29, 2023 | Apr 30, 2023 | Apr 29, 2023 | Jan 31, 2023 | Jan 28, 2023 | Oct 31, 2022 | Oct 29, 2022 | Jul 31, 2022 | Jul 30, 2022 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cost of revenue (ttm) | US$ in thousands | 757,413 | 745,226 | 765,360 | 754,417 | 720,410 | 724,392 | 728,374 | 767,225 | 803,950 | 795,963 | 787,976 | 751,778 | 715,580 | 730,988 | 746,396 | 791,551 | 836,706 | 823,539 | 789,026 | 735,434 |
| Payables | US$ in thousands | 82,448 | 62,637 | 69,646 | 73,894 | 78,283 | 78,283 | 73,310 | 73,310 | 80,003 | 80,003 | 87,323 | 87,323 | 85,106 | 85,106 | 68,988 | 68,988 | 84,378 | 84,378 | 76,151 | 76,151 |
| Payables turnover | 9.19 | 11.90 | 10.99 | 10.21 | 9.20 | 9.25 | 9.94 | 10.47 | 10.05 | 9.95 | 9.02 | 8.61 | 8.41 | 8.59 | 10.82 | 11.47 | 9.92 | 9.76 | 10.36 | 9.66 |
April 30, 2025 calculation
Payables turnover = Cost of revenue (ttm) ÷ Payables
= $757,413K ÷ $82,448K
= 9.19
The payables turnover ratio of National Beverage Corp over the observed periods exhibits notable fluctuations that provide insights into the company's management of accounts payable and its overall liquidity strategy. Starting from a value of approximately 9.66 times in July 2022, the ratio experienced a slight increase, reaching around 10.36 by the end of July 2022, and remained relatively stable through October 2022 with ratios of approximately 9.76 and 9.92 respectively. These consistent figures indicate a steady pace at which the company paid its suppliers during this period.
Moving into early 2023, the ratio notably increased to approximately 11.47 in January, suggesting that the company was paying its vendors more frequently within the period, possibly reflecting improved liquidity, shorter credit terms, or a strategic effort to reduce liabilities. This increase was followed by a slight decline in April 2023 to around 8.59 and 8.41, respectively, indicating a period where the company perhaps lengthened its payment cycle or faced operational requirements delaying payments.
Subsequently, the ratios in mid to late 2023 show a moderate recovery, with values around 8.61 and 9.02 in July, and reaching approximately 9.95 and 10.05 in October. The upward trend observed towards the end of 2023 and early 2024, with ratios approximately 10.47 and 9.94 respectively, signifies a gradual return to more frequent payments to suppliers.
From January 2024 onward, the ratio further increased, reaching 10.21 in July 2024, and continues to trend upward with 10.99 in October 2024, and peaking at approximately 11.90 in January 2025. This sustained increase suggests that the company has adopted a strategy of paying its trade payables more rapidly relative to its purchases, perhaps reflecting strengthened liquidity position, a change in payment policies, or a response to supplier terms.
In summary, the company's payables turnover ratio has generally exhibited modest fluctuations within a broad range of roughly 8.4 to 12, with a discernible increasing trend from mid-2023 onward. The rising ratios towards the latest periods indicate a possible preference for quicker payments to suppliers, aligning with improved financial health or strategic considerations relating to supply chain management.
Peer comparison
Apr 30, 2025