Flowers Foods Inc (FLO)

Payables turnover

		Dec 31, 2023	Oct 7, 2023	Jul 15, 2023	Apr 22, 2023	Dec 31, 2022	Oct 8, 2022	Apr 23, 2022	Dec 31, 2021	Oct 9, 2021	Jul 17, 2021	Apr 24, 2021	Dec 31, 2020	Sep 30, 2020	Jul 11, 2020	Apr 18, 2020	Dec 31, 2019	Oct 5, 2019	Jul 13, 2019	Apr 20, 2019	Dec 31, 2018
Cost of revenue (ttm)	US$ in thousands	4,782,430	4,738,771	3,520,801	3,699,111	2,291,471	1,817,088	2,724,745	2,589,265	3,112,542	3,095,123	2,180,066	2,229,586	2,192,669	2,204,066	2,708,418	1,990,384	1,505,572	997,446	489,929	468,875
Payables	US$ in thousands	318,600	328,614	328,166	343,154	343,380	348,707	297,408	268,500	264,535	266,688	241,073	225,918	257,531	250,040	257,994	233,011	251,939	254,749	240,554	242,084
Payables turnover		15.01	14.42	10.73	10.78	6.67	5.21	9.16	9.64	11.77	11.61	9.04	9.87	8.51	8.81	10.50	8.54	5.98	3.92	2.04	1.94

December 31, 2023 calculation

Payables turnover = Cost of revenue (ttm) ÷ Payables
= $4,782,430K ÷ $318,600K
= 15.01

The payables turnover ratio for Flowers Foods Inc has shown significant fluctuations over the last few years. The ratio has ranged from 1.94 to 15.01, indicating variations in the company's ability to pay off its suppliers within a given period.

In recent years, there has been an increasing trend in the payables turnover ratio, suggesting more efficient management of accounts payable. The ratio has generally been above 5, indicating that the company is able to pay off its suppliers multiple times per year.

However, the ratio dipped in some periods, such as Dec 31, 2020, and Oct 5, 2019, which could indicate extended payment periods or potential liquidity issues affecting the company's ability to settle its payables promptly.

Overall, the payables turnover ratio for Flowers Foods Inc reflects the company's ability to manage its payables effectively, but fluctuations in the ratio suggest the need for continued monitoring of the company's liquidity and supplier payment practices.