GXO Logistics Inc (GXO)

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
Cost of revenue (ttm)	US$ in thousands	9,166,000	9,079,000	8,993,000	8,855,000	8,690,000	8,483,000	8,191,000	7,943,000
Payables	US$ in thousands	709,000	597,000	566,000	652,000	717,000	568,000	592,000	549,000	624,000	496,000	458,000
Payables turnover		12.93	15.21	15.89	13.58	12.12	14.93	13.84	14.47

December 31, 2023 calculation

Payables turnover = Cost of revenue (ttm) ÷ Payables
= $9,166,000K ÷ $709,000K
= 12.93

The payables turnover ratio for GXO Logistics Inc has been consistently 0.00 for the past five quarters, indicating that the company is not efficiently managing its accounts payable. A low or decreasing payables turnover ratio could suggest that the company is taking longer to pay off its suppliers, potentially straining relationships and leading to higher financing costs. It is important for GXO Logistics Inc to analyze the reasons behind the low payables turnover and implement strategies to improve the efficiency of their accounts payable management.