Hess Corporation (HES)

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	565,000	665,000	659,000	648,000	592,000	485,000	453,000	443,000	426,000	396,000	430,000	432,000	2,614,000	2,659,000	2,736,000	2,736,000	549,000	571,000	526,000	566,000
Payables	US$ in thousands	402,000	426,000	350,000	344,000	285,000	321,000	359,000	312,000	220,000	210,000	178,000	172,000	200,000	200,000	307,000	431,000	411,000	396,000	353,000	399,000
Payables turnover		1.41	1.56	1.88	1.88	2.08	1.51	1.26	1.42	1.94	1.89	2.42	2.51	13.07	13.30	8.91	6.35	1.34	1.44	1.49	1.42

December 31, 2023 calculation

Payables turnover = Cost of revenue (ttm) ÷ Payables
= $565,000K ÷ $402,000K
= 1.41

The payables turnover ratio for Hess Corporation has been consistently reported as 0.00 across all quarters of 2023 and 2022. This indicates that the company is not effectively managing its accounts payable in relation to its purchases or cost of goods sold during these periods. A payables turnover ratio of 0.00 typically suggests a significant delay in paying suppliers or potentially a lack of trade creditors. This could have implications for the company's liquidity, supplier relationships, and overall financial health. Further analysis and investigation into the reason behind the consistently low payables turnover ratio are warranted to understand the efficiency of the company's payables management practices.