Hormel Foods Corporation (HRL)
Payables turnover
| Jan 28, 2024 | Oct 29, 2023 | Jul 30, 2023 | Apr 30, 2023 | Jan 29, 2023 | Oct 30, 2022 | Jul 31, 2022 | May 1, 2022 | Jan 30, 2022 | Oct 31, 2021 | Jul 25, 2021 | Apr 25, 2021 | Jan 24, 2021 | Oct 25, 2020 | Jul 26, 2020 | Apr 26, 2020 | Jan 26, 2020 | Oct 27, 2019 | Jul 28, 2019 | Apr 28, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cost of revenue (ttm) | US$ in thousands | 11,138,030 | 11,106,700 | 11,102,220 | 11,096,600 | 11,165,860 | 11,200,540 | 11,384,690 | 11,300,390 | 10,862,100 | 10,337,080 | 9,375,720 | 8,850,930 | 8,661,080 | 8,565,950 | 8,601,130 | 8,494,940 | 8,399,280 | 8,351,810 | 8,369,810 | 8,443,800 |
| Payables | US$ in thousands | — | 771,397 | 703,407 | — | — | 816,604 | — | — | — | 793,310 | 654,162 | 577,365 | 558,523 | 644,609 | 537,535 | 502,133 | 490,042 | 590,033 | 513,372 | 523,673 |
| Payables turnover | — | 14.40 | 15.78 | — | — | 13.72 | — | — | — | 13.03 | 14.33 | 15.33 | 15.51 | 13.29 | 16.00 | 16.92 | 17.14 | 14.15 | 16.30 | 16.12 |
January 28, 2024 calculation
Payables turnover = Cost of revenue (ttm) ÷ Payables
= $11,138,030K ÷ $—K
= —
The payables turnover ratio measures how many times a company pays off its accounts payable during a specific period. A higher payables turnover ratio indicates that the company is paying off its suppliers more frequently.
Based on the available data, Hormel Foods Corp. had a payables turnover ratio of 14.42 in Q3 2023 and 12.61 in Q4 2022. The increase in the payables turnover ratio from Q4 2022 to Q3 2023 suggests that Hormel Foods Corp. improved its ability to manage its accounts payable efficiently during this period.
However, the lack of data for the other quarters limits our ability to analyze the trend consistently over time. It would be beneficial to have more data points to gain a clearer understanding of how Hormel Foods Corp. manages its payables turnover ratio and its relationship with suppliers.