General Motors Company (GM)

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	2,494,000	2,210,000	2,144,000	1,994,000	1,091,000	109,517,000	109,579,000	109,533,000	109,459,000	105,189,000	105,116,000	105,099,000	105,425,000	119,840,000	119,968,000	120,179,000	119,903,000	132,113,000	131,917,000	167,114,000
Payables	US$ in thousands	28,114,000	30,387,000	29,800,000	28,931,000	27,486,000	26,886,000	25,890,000	25,240,000	20,391,000	18,648,000	21,431,000	20,446,000	19,928,000	20,914,000	15,154,000	20,031,000	21,018,000	21,406,000	22,717,000	24,560,000
Payables turnover		0.09	0.07	0.07	0.07	0.04	4.07	4.23	4.34	5.37	5.64	4.90	5.14	5.29	5.73	7.92	6.00	5.70	6.17	5.81	6.80

December 31, 2023 calculation

Payables turnover = Cost of revenue (ttm) ÷ Payables
= $2,494,000K ÷ $28,114,000K
= 0.09

General Motors Company's payables turnover ratio measures the efficiency with which the company manages its trade payables. The ratio indicates how many times during a period the company is able to pay off its suppliers.

Analyzing the data provided, we observe fluctuations in the payables turnover ratio over the past eight quarters. The ratio has ranged from a low of 4.12 to a high of 5.03, showing some volatility in the management of payables.

The increase in the payables turnover ratio from 4.12 in Q2 2022 to 4.60 in Q3 2023 suggests that the company has been able to enhance its efficiency in paying off its trade payables. However, the ratio decreased to 4.49 in Q1 2023, indicating a slight decrease in efficiency.

Overall, the payables turnover ratio for General Motors Company has shown some variability, which may be a result of changes in the company's payment terms, supplier relationships, or inventory management. Further analysis and context are necessary to fully understand the implications of these fluctuations in the payables turnover ratio.