MarineMax Inc (HZO)
Payables turnover
| Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cost of revenue (ttm) | US$ in thousands | 1,629,812 | 1,650,765 | 1,613,180 | 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 |
| Payables | US$ in thousands | 54,481 | 45,578 | 61,339 | 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 |
| Payables turnover | 29.92 | 36.22 | 26.30 | 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 |
September 30, 2024 calculation
Payables turnover = Cost of revenue (ttm) ÷ Payables
= $1,629,812K ÷ $54,481K
= 29.92
The payables turnover ratio for MarineMax Inc has fluctuated over the periods indicated in the table. The ratio indicates how efficiently the company is managing its accounts payable by measuring the number of times a company pays its average accounts payable balance during a specific period.
In recent periods, there seems to have been some variability in the payables turnover ratio, with values ranging from around 21.75 to 56.34. A higher payables turnover ratio generally indicates that the company is paying its suppliers more frequently, which can sometimes suggest good financial health and efficient management of payables.
It is notable that the payables turnover ratio has shown an increasing trend in recent quarters, reaching a peak of 56.34 in the latest period. This could imply that the company is managing its payables more efficiently, either by negotiating better terms with suppliers or by optimizing its cash management practices.
Overall, the increasing trend in the payables turnover ratio for MarineMax Inc suggests that the company may be improving its relationships with suppliers and managing its working capital more effectively. However, it is important to consider this ratio in conjunction with other financial metrics to gain a comprehensive understanding of the company's financial performance and liquidity.
Peer comparison
Sep 30, 2024