Fluor Corporation (FLR)
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 | 14,997,000 | 14,820,000 | 14,735,000 | 14,178,000 | 13,387,000 | 12,807,000 | 12,570,000 | 12,982,000 | 13,237,000 | 13,373,320 | 13,307,740 | 13,367,850 | 13,748,000 | 14,588,380 | 15,484,280 | 16,633,940 | 17,223,840 | 17,875,040 | 18,151,620 | 18,037,270 |
| Payables | US$ in thousands | 1,214,000 | 1,197,000 | 1,155,000 | 1,068,000 | 1,017,000 | 1,071,000 | 1,020,000 | 1,002,000 | 1,220,000 | 1,117,490 | 1,087,400 | 1,102,170 | 1,115,620 | 1,338,150 | 1,428,780 | 1,443,280 | 1,546,840 | 1,298,050 | 1,317,010 | 1,317,780 |
| Payables turnover | 12.35 | 12.38 | 12.76 | 13.28 | 13.16 | 11.96 | 12.32 | 12.96 | 10.85 | 11.97 | 12.24 | 12.13 | 12.32 | 10.90 | 10.84 | 11.53 | 11.13 | 13.77 | 13.78 | 13.69 |
December 31, 2023 calculation
Payables turnover = Cost of revenue (ttm) ÷ Payables
= $14,997,000K ÷ $1,214,000K
= 12.35
Fluor Corporation's payables turnover ratio has shown consistency and improvement over the past eight quarters. The ratio has ranged from 11.94 to 13.28, indicating that the company is efficiently managing its accounts payable by paying off its suppliers relatively quickly.
The company's ability to turn over its payables at such a consistent and relatively high rate suggests strong liquidity and efficient working capital management. A higher turnover ratio indicates that Fluor Corporation is efficiently utilizing its suppliers' credit terms or negotiating favorable payment conditions.
Overall, the trend of increasing payables turnover ratios over the past year demonstrates Fluor Corporation's commitment to financial efficiency and effective management of its working capital.
Peer comparison
Dec 31, 2023