MarineMax Inc (HZO)
Payables turnover
| Sep 30, 2024 | Sep 30, 2023 | Sep 30, 2022 | Sep 30, 2021 | Sep 30, 2020 | ||
|---|---|---|---|---|---|---|
| Cost of revenue | US$ in thousands | 1,629,810 | 1,559,380 | 1,502,340 | 1,403,820 | 1,111,000 |
| Payables | US$ in thousands | 54,481 | 71,706 | 34,342 | 25,739 | 37,343 |
| Payables turnover | 29.92 | 21.75 | 43.75 | 54.54 | 29.75 |
September 30, 2024 calculation
Payables turnover = Cost of revenue ÷ Payables
= $1,629,810K ÷ $54,481K
= 29.92
MarineMax Inc's payables turnover has exhibited fluctuations over the five-year period from September 30, 2020, to September 30, 2024. The payables turnover ratio measures how efficiently a company manages its trade payables by comparing the cost of goods sold to average accounts payable.
In analyzing the trend, it is observed that the payables turnover ratio declined from 29.75 in 2020 to 21.75 in 2023, indicating a decrease in the company's ability to pay off its suppliers within a given period. However, in 2024, the payables turnover ratio improved significantly to 29.92, implying a positive change in the efficiency of MarineMax Inc in managing its payables.
Comparing the figures to the industry average or competitors' ratios would provide a clearer perspective on MarineMax Inc's performance in this area. Additionally, further investigation into the company's payment terms, supplier relationships, and inventory management practices could help explain the fluctuations in the payables turnover ratio over the years.
Peer comparison
Sep 30, 2024