HNI Corp (HNI)
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 | 2,182,700 | 2,078,300 | 1,990,200 | 2,014,800 | 2,263,500 | 2,308,700 | 2,301,700 | 2,195,600 | 2,105,417 | 2,044,596 | 1,951,933 | 1,868,299 | 1,898,937 | 1,921,035 | 2,017,899 | 2,118,481 | 2,101,879 | 2,103,936 | 2,096,771 | 2,110,619 |
| Payables | US$ in thousands | 193,700 | — | — | — | 165,300 | — | — | — | 233,800 | — | — | — | 190,527 | — | — | — | 227,557 | — | — | — |
| Payables turnover | 11.27 | — | — | — | 13.69 | — | — | — | 9.01 | — | — | — | 9.97 | — | — | — | 9.24 | — | — | — |
December 31, 2023 calculation
Payables turnover = Cost of revenue (ttm) ÷ Payables
= $2,182,700K ÷ $193,700K
= 11.27
The payables turnover ratio for HNI Corp shows variations over the periods provided. The ratio indicates how efficiently the company is managing its accounts payable by measuring how many times during a period the company pays off its average accounts payable balance.
Specifically, the payables turnover ratio was 11.27 at December 31, 2023, 13.69 at December 31, 2022, 9.01 at December 31, 2021, 9.97 at December 31, 2020, and 9.24 at December 31, 2019. These figures suggest that the company took approximately 11.27, 13.69, 9.01, 9.97, and 9.24 days respectively to pay off its accounts payable during those periods.
A higher payables turnover ratio indicates that the company is paying off its suppliers more frequently, which may signify efficient cash management or good vendor relations. On the other hand, a decreasing ratio may raise concerns about liquidity or payment delays.
It is worth noting that there are missing data for some periods, which limits the ability to analyze the trend over time accurately. To draw more conclusive insights, it would be beneficial to have a complete dataset for a more in-depth analysis of HNI Corp's payables turnover performance.