MarineMax Inc (HZO)
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 | 1,590,140 | 1,559,377 | 1,508,494 | 1,482,522 | 1,517,882 | 1,502,344 | 1,450,105 | 1,459,695 | 1,421,193 | 1,403,824 | 1,398,362 | 1,311,559 | 1,174,969 | 1,111,000 | 1,049,398 | 960,331 | 960,016 | 914,321 | 923,214 | 907,997 |
| Payables | US$ in thousands | 43,957 | 71,706 | 47,202 | 44,598 | 43,373 | 34,342 | 56,533 | 37,856 | 27,244 | 25,739 | 28,741 | 23,280 | 22,379 | 37,343 | 39,441 | 15,259 | 18,159 | 33,674 | 31,601 | 11,626 |
| Payables turnover | 36.17 | 21.75 | 31.96 | 33.24 | 35.00 | 43.75 | 25.65 | 38.56 | 52.17 | 54.54 | 48.65 | 56.34 | 52.50 | 29.75 | 26.61 | 62.94 | 52.87 | 27.15 | 29.21 | 78.10 |
December 31, 2023 calculation
Payables turnover = Cost of revenue (ttm) ÷ Payables
= $1,590,140K ÷ $43,957K
= 36.17
Marinemax, Inc.'s payables turnover has fluctuated over the past eight quarters. The payables turnover ratio measures how efficiently the company is managing its trade credit from suppliers. A higher ratio indicates that the company is paying its suppliers more frequently, which can be a sign of good financial health and strong supplier relationships.
In the most recent quarter ending December 31, 2023, the payables turnover ratio stands at 36.17, significantly higher than the previous quarter's 21.75, indicating that Marinemax, Inc. paid its suppliers much more frequently. This rapid turnover could signify effective cash management and the ability to negotiate favorable payment terms with suppliers.
Despite the fluctuations in the ratio over the past eight quarters, the overall trend seems to indicate that Marinemax, Inc. has been managing its trade credit efficiently.
It is important to note that while a high payables turnover can indicate good cash management, it may also signal aggressive tactics with suppliers, potentially straining relationships. Therefore, it is important to consider industry benchmarks and historical trends when evaluating the company's payables turnover performance.
Peer comparison
Dec 31, 2023