Gates Industrial Corporation plc (GTES)
Payables turnover
| Jun 30, 2024 | Mar 31, 2024 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cost of revenue (ttm) | US$ in thousands | 2,115,800 | 2,171,300 | 2,211,300 | 2,269,000 | 2,290,700 | 2,287,700 | 2,303,600 | 2,249,600 | 2,220,100 | 2,187,900 | 2,135,200 | 2,098,300 | 2,015,200 | 1,839,800 | 1,758,300 | 1,730,200 | 1,765,800 | 1,901,300 | 1,944,600 | 1,962,400 |
| Payables | US$ in thousands | 441,300 | 451,400 | 457,700 | 441,100 | 470,700 | — | 469,600 | — | — | — | 506,600 | — | — | — | — | — | — | — | — | — |
| Payables turnover | 4.79 | 4.81 | 4.83 | 5.14 | 4.87 | — | 4.91 | — | — | — | 4.21 | — | — | — | — | — | — | — | — | — |
June 30, 2024 calculation
Payables turnover = Cost of revenue (ttm) ÷ Payables
= $2,115,800K ÷ $441,300K
= 4.79
The payables turnover ratio for Gates Industrial Corporation plc has been relatively stable over the periods disclosed in the table, ranging from 4.79 to 5.14. This ratio indicates that the company is able to efficiently manage its trade payables, with a higher ratio suggesting a shorter time taken to pay off suppliers. The consistent values within a reasonable range suggest that the company has been effective in managing its accounts payable turnover, maintaining healthy relationships with its suppliers while also effectively utilizing its working capital. It would be important to continue monitoring this ratio to ensure that payment terms remain favorable and sustainable for all parties involved.
Peer comparison
Jun 30, 2024