Hexcel Corporation (HXL)

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	1,530,000	1,508,000	1,457,000	1,414,600	1,383,000	1,326,400	1,314,700	1,272,500	1,231,900	1,252,400	1,275,000	1,340,900	1,478,800	1,587,800	1,713,000	1,831,700	1,877,200	1,874,900	1,856,600	1,814,900
Payables	US$ in thousands	159,100	97,800	117,500	122,000	155,500	113,200	103,400	112,500	113,200	90,100	86,800	88,500	70,000	61,100	73,200	151,900	157,600	164,500	177,800	165,200
Payables turnover		9.62	15.42	12.40	11.60	8.89	11.72	12.71	11.31	10.88	13.90	14.69	15.15	21.13	25.99	23.40	12.06	11.91	11.40	10.44	10.99

December 31, 2023 calculation

Payables turnover = Cost of revenue (ttm) ÷ Payables
= $1,530,000K ÷ $159,100K
= 9.62

Based on the data provided, the payables turnover ratio for Hexcel Corp. has shown fluctuations over the quarters. The ratio helps in assessing how efficiently the company is managing its accounts payable by measuring how many times a company pays off its accounts payable during a specific period.

In Q4 2023, the payables turnover ratio was 8.52, indicating that the company was paying off its accounts payable approximately 8.52 times during that quarter. This ratio decreased from the previous quarter (Q3 2023) where it was 13.62, suggesting a slower turnover of payables in Q4.

Overall, Hexcel Corp.'s payables turnover ratio has been relatively stable, with fluctuations seen over the quarters. It is important to further investigate the reasons behind these changes to understand the company's payment efficiency and its relationship with suppliers.