Goodyear Tire & Rubber Co (GT)
Payables turnover
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Cost of revenue | US$ in thousands | 15,176,000 | 16,557,000 | 16,953,000 | 13,692,000 | 10,337,000 |
| Payables | US$ in thousands | — | — | — | — | — |
| Payables turnover | — | — | — | — | — |
December 31, 2024 calculation
Payables turnover = Cost of revenue ÷ Payables
= $15,176,000K ÷ $—K
= —
The payables turnover ratio is a measure of how efficiently a company manages its accounts payable by comparing the amount of purchases made on credit to the average accounts payable balance.
The data provided indicates that the payables turnover ratio for Goodyear Tire & Rubber Co is not available for the years 2020 through 2024. This could be due to the absence of specific information about the accounts payable balance and purchases made on credit during those years.
A higher payables turnover ratio generally indicates that the company is paying off its suppliers more quickly, which may reflect good liquidity and efficient management of its working capital. Conversely, a low payables turnover ratio may suggest that the company is taking a longer time to pay its suppliers, which could potentially strain relationships or indicate liquidity issues.
Without the specific data on payables turnover for Goodyear Tire & Rubber Co, it is challenging to assess how effectively the company is managing its accounts payable during the specified years. Additional information on accounts payable balances and credit purchases would be required for a more thorough analysis of the payables turnover ratio and its implications for the company's financial health and operational efficiency.