Green Plains Renewable Energy Inc (GPRE)

Payables turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Cost of revenue	US$ in thousands	3,103,840	3,525,010	2,625,110	1,812,160	2,534,150
Payables	US$ in thousands	186,643	234,301	146,063	140,058	156,693
Payables turnover		16.63	15.04	17.97	12.94	16.17

December 31, 2023 calculation

Payables turnover = Cost of revenue ÷ Payables
= $3,103,840K ÷ $186,643K
= 16.63

The payables turnover ratio for Green Plains Inc has exhibited fluctuations over the past five years. The ratio indicates how efficiently the company pays its suppliers. A higher payables turnover ratio suggests that the company is paying its suppliers more quickly.

In 2023, the payables turnover ratio reached 16.63, showing an improvement from the previous year. This indicates that Green Plains Inc was able to pay its suppliers more frequently in 2023 compared to 2022. The company's ability to manage its payables effectively improved during this period.

Comparing the payables turnover ratio over the five-year period, the company experienced a peak in 2021 with a ratio of 17.97, indicating that Green Plains Inc was managing its payables exceptionally well that year. However, in 2020, the ratio dropped to 12.94, indicating a potential delay in payment to suppliers.

Overall, the trend in Green Plains Inc's payables turnover ratio shows some variability, but generally suggests that the company has been able to effectively manage its payables over the years, with improvements seen in some years compared to others.