Helix Energy Solutions Group Inc (HLX)
Payables turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Cost of revenue | US$ in thousands | 1,089,370 | 822,484 | 659,335 | 653,646 | 614,071 |
| Payables | US$ in thousands | 134,552 | 135,267 | 87,959 | 50,022 | 69,055 |
| Payables turnover | 8.10 | 6.08 | 7.50 | 13.07 | 8.89 |
December 31, 2023 calculation
Payables turnover = Cost of revenue ÷ Payables
= $1,089,370K ÷ $134,552K
= 8.10
The payables turnover ratio of Helix Energy Solutions Group Inc has shown fluctuations over the past five years. The ratio increased from 8.89 in 2019 to 13.07 in 2020, indicating a substantial improvement in the company's ability to manage its payables efficiently. However, in the following years, the ratio decreased to 7.50 in 2021 and then further to 6.08 in 2022, suggesting potential challenges in managing payables effectively during those periods.
In 2023, the payables turnover ratio rebounded to 8.10, indicating a better performance in managing supplier payments compared to the previous year. A higher payables turnover ratio typically signifies that the company is able to pay off its suppliers more rapidly, which may result from negotiation of better payment terms or more efficient cash management.
Overall, while the payables turnover ratio has exhibited variability, the recent uptick in 2023 suggests an improvement in Helix Energy Solutions Group Inc's efficiency in managing its accounts payable.
Peer comparison
Dec 31, 2023