Chart Industries Inc (GTLS)
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 | 3,037,800 | 2,585,600 | 2,156,900 | 1,714,500 | 1,518,100 | 1,463,900 | 1,411,400 | 1,332,700 | 1,259,200 | 1,186,000 | 1,116,500 | 1,102,400 | 1,144,100 | 1,182,800 | 1,265,200 | 1,271,300 | 1,260,400 | 1,190,700 | 1,106,000 | 1,115,100 |
| Payables | US$ in thousands | 811,000 | 721,700 | 703,800 | 670,100 | 211,100 | 206,100 | 213,400 | 185,100 | 175,900 | 179,900 | 170,400 | 151,800 | 140,100 | 107,700 | 110,600 | 120,300 | 120,800 | 120,700 | 114,000 | 121,100 |
| Payables turnover | 3.75 | 3.58 | 3.06 | 2.56 | 7.19 | 7.10 | 6.61 | 7.20 | 7.16 | 6.59 | 6.55 | 7.26 | 8.17 | 10.98 | 11.44 | 10.57 | 10.43 | 9.86 | 9.70 | 9.21 |
December 31, 2023 calculation
Payables turnover = Cost of revenue (ttm) ÷ Payables
= $3,037,800K ÷ $811,000K
= 3.75
Chart Industries Inc's payables turnover ratio has been fluctuating over the past eight quarters. The ratio was relatively stable around 5.7 in Q4 2022 and Q3 2022, reflecting the company's ability to efficiently manage its trade payables during that period. However, there was a significant decline in Q1 2023 to 1.97, indicating a longer payment period or decreased efficiency in managing payables.
Subsequently, the payables turnover ratio increased in Q2 2023 and Q3 2023 but remained below the levels seen in the previous quarters. This suggests some improvement in the management of payables compared to Q1 2023 but not as efficient as in Q4 2022 and Q3 2022.
In Q4 2023, the payables turnover ratio further increased to 2.85, showing a positive trend towards more efficient management of payables. However, the ratio is still lower than the peak levels seen in Q4 2022 and Q3 2022.
Overall, the trend in Chart Industries Inc's payables turnover indicates some variability in the company's ability to manage its trade payables effectively. Further analysis of the reasons behind the fluctuations in the ratio may provide insights into the company's vendor relationships, payment terms, and cash flow management.