Genuine Parts Co (GPC)

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	21,317,610	21,404,430	21,294,000	20,932,730	20,542,590	19,757,420	19,035,800	18,462,180	17,693,500	17,284,600	16,827,870	16,412,810	16,584,820	17,169,270	17,836,440	18,352,350	18,476,840	18,175,430	17,865,060	17,753,460
Payables	US$ in thousands	5,499,540	5,486,380	5,570,570	5,677,130	5,456,550	5,531,250	5,409,590	5,214,540	4,804,940	4,819,080	4,729,240	4,479,400	4,128,080	4,030,320	3,745,030	4,067,400	4,106,160	4,195,870	4,064,550	4,058,210
Payables turnover		3.88	3.90	3.82	3.69	3.76	3.57	3.52	3.54	3.68	3.59	3.56	3.66	4.02	4.26	4.76	4.51	4.50	4.33	4.40	4.37

December 31, 2023 calculation

Payables turnover = Cost of revenue (ttm) ÷ Payables
= $21,317,610K ÷ $5,499,540K
= 3.88

Genuine Parts Co.'s payables turnover has exhibited relatively stable performance over the past eight quarters. The payables turnover ratio has ranged between 2.45 and 2.70 during this period, indicating the company's ability to efficiently manage its accounts payable.

The average payables turnover ratio over the past eight quarters is approximately 2.58. This implies that Genuine Parts Co. is able to turn over its accounts payable approximately 2.58 times within a year, which suggests that the company effectively manages its payments to suppliers.

It is important to note that fluctuations in the payables turnover ratio may be influenced by various factors such as changes in payment terms with suppliers, alterations in inventory turnover, or shifts in business operations. Overall, Genuine Parts Co.'s consistent payables turnover performance indicates a strong control over its working capital management.