Harley-Davidson Inc (HOG)
Payables turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Cost of revenue | US$ in thousands | 4,831,140 | 4,701,520 | 4,512,870 | 4,044,700 | 4,806,180 |
| Payables | US$ in thousands | 349,162 | 378,002 | 374,978 | 290,904 | 294,380 |
| Payables turnover | 13.84 | 12.44 | 12.04 | 13.90 | 16.33 |
December 31, 2023 calculation
Payables turnover = Cost of revenue ÷ Payables
= $4,831,140K ÷ $349,162K
= 13.84
Harley-Davidson, Inc.'s payables turnover has fluctuated over the past five years. The payables turnover ratio measures how efficiently a company is managing its accounts payable. A higher ratio indicates that the company is paying off its suppliers more quickly.
From 2019 to 2021, there was a decreasing trend in payables turnover, indicating that Harley-Davidson was taking longer to pay off its suppliers during those years. However, in 2023, the payables turnover ratio increased to 10.17, showing an improvement in the company's ability to settle its payables faster compared to the previous years.
Overall, Harley-Davidson's payables turnover ratio has been relatively healthy, hovering above 8 and peaking at 11.43 in 2019. This suggests that the company has generally been efficient in managing its payables and maintaining good relationships with its suppliers.
Peer comparison
Dec 31, 2023