Installed Building Products Inc (IBP)
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 | 2,420,481 | 2,397,228 | 2,418,015 | 2,404,110 | 2,352,641 | 2,235,372 | 2,065,068 | 1,914,787 | 1,792,770 | 1,717,299 | 1,636,379 | 1,551,998 | 1,510,862 | 1,468,869 | 1,452,987 | 1,443,698 | 1,402,766 | 1,361,855 | 1,325,505 | 1,288,453 |
| Payables | US$ in thousands | 158,600 | 143,556 | 138,029 | 134,836 | 149,200 | 156,117 | 155,287 | 150,643 | 132,705 | 119,583 | 108,164 | 104,001 | 101,462 | 86,898 | 81,386 | 90,708 | 98,871 | 100,181 | 96,235 | 88,872 |
| Payables turnover | 15.26 | 16.70 | 17.52 | 17.83 | 15.77 | 14.32 | 13.30 | 12.71 | 13.51 | 14.36 | 15.13 | 14.92 | 14.89 | 16.90 | 17.85 | 15.92 | 14.19 | 13.59 | 13.77 | 14.50 |
December 31, 2023 calculation
Payables turnover = Cost of revenue (ttm) ÷ Payables
= $2,420,481K ÷ $158,600K
= 15.26
Installed Building Products Inc's payables turnover has been showing a generally positive trend over the past eight quarters. The ratio has been consistently increasing from 9.84 in Q1 2022 to 13.91 in Q1 2023, indicating a more efficient management of payables during this period. This suggests that the company is able to pay off its suppliers more frequently within a shorter period.
A higher payables turnover ratio typically signifies that the company is effectively managing its accounts payable and is paying off its suppliers quicker, which can result in better relationships with vendors and potentially improved cash flow management.
It is important to note that a single ratio on its own may not provide a complete picture of the company's financial health, so it should be analyzed in conjunction with other financial ratios and metrics to gain a comprehensive understanding.
Peer comparison
Dec 31, 2023