Hormel Foods Corporation (HRL)
Payables turnover
| Oct 31, 2024 | Oct 27, 2024 | Oct 31, 2023 | Oct 29, 2023 | Oct 31, 2022 | ||
|---|---|---|---|---|---|---|
| Cost of revenue | US$ in thousands | 9,898,660 | 10,927,900 | 10,110,200 | 11,106,700 | 10,294,100 |
| Payables | US$ in thousands | — | 735,604 | — | 771,397 | — |
| Payables turnover | — | 14.86 | — | 14.40 | — |
October 31, 2024 calculation
Payables turnover = Cost of revenue ÷ Payables
= $9,898,660K ÷ $—K
= —
The payables turnover for Hormel Foods Corporation can be analyzed over the period from October 29, 2023, to October 27, 2024. During this time frame, the payables turnover ratio showed an increase from 14.40 to 14.86, indicating that the company took less time to pay its suppliers. This improvement suggests that Hormel Foods Corporation has been managing its accounts payable efficiently, which could result from better cash flow management or negotiation with suppliers. However, the absence of data for the other periods limits the ability to make a comprehensive assessment of the trend in payables turnover. It's essential for investors and stakeholders to monitor this ratio over time to evaluate the company's ability to manage its payables effectively.