IDACORP Inc (IDA)
Payables turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Cost of revenue | US$ in thousands | 1,176 | 1,106 | 1,021 | 8,469 | 43,947 |
| Payables | US$ in thousands | 308,504 | 292,719 | 145,980 | 120,576 | 110,745 |
| Payables turnover | 0.00 | 0.00 | 0.01 | 0.07 | 0.40 |
December 31, 2023 calculation
Payables turnover = Cost of revenue ÷ Payables
= $1,176K ÷ $308,504K
= 0.00
The payables turnover ratio for Idacorp, Inc. has exhibited fluctuating trends over the past five years. In 2023, the payables turnover ratio decreased to 1.63 from 1.86 in 2022, indicating that the company took longer to pay its suppliers in 2023 compared to the previous year. This may suggest a slowdown in the company's payments to suppliers.
Comparing 2023 to earlier years, the payables turnover ratio was lower than in 2021 and 2020, but higher than in 2019. This indicates that the company's payment practices in 2023 were less efficient than in 2021 and 2020, but more efficient than in 2019.
Overall, the decreasing trend in the payables turnover ratio from 2020 to 2023 may signal potential liquidity concerns or changes in the company's payment policies. Further analysis, in conjunction with other financial metrics, would be necessary to understand the underlying factors driving these changes in payables turnover for Idacorp, Inc.
Peer comparison
Dec 31, 2023