Heartland Express Inc (HTLD)

Payables turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Cost of revenue	US$ in thousands	848,924	654,721	415,772	431,987	410,069
Payables	US$ in thousands	—	—	—	—	—
Payables turnover		—	—	—	—	—

December 31, 2023 calculation

Payables turnover = Cost of revenue ÷ Payables
= $848,924K ÷ $—K
= —

To calculate the payables turnover ratio for Heartland Express, Inc., we need the company's cost of goods sold (COGS) and average accounts payable for each year. The payables turnover ratio is calculated as follows:

Payables Turnover = COGS / Average Accounts Payable

Without the specific data for COGS and average accounts payable for each year, it is not possible to calculate the payables turnover ratio for Heartland Express, Inc. It is important to note that a higher payables turnover ratio generally indicates that the company is paying its suppliers more frequently, which could suggest efficient management of payables. Conversely, a lower payables turnover ratio may indicate that the company is taking longer to pay its suppliers, possibly signaling financial distress or inefficiencies in the payment process.