IDACORP Inc (IDA)

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	1,178	-2,267	216	1,235	1,108	274	453	2,735	5,871	8,987	9,917	9,198	8,468	41,964	42,779	43,558	43,947	51,510	49,717	47,628
Payables	US$ in thousands	308,504	227,348	223,653	201,838	292,719	184,831	152,569	121,037	145,980	126,620	122,834	81,602	120,576	99,767	81,906	67,662	110,745	84,287	80,651	83,045
Payables turnover		0.00	-0.01	0.00	0.01	0.00	0.00	0.00	0.02	0.04	0.07	0.08	0.11	0.07	0.42	0.52	0.64	0.40	0.61	0.62	0.57

December 31, 2023 calculation

Payables turnover = Cost of revenue (ttm) ÷ Payables
= $1,178K ÷ $308,504K
= 0.00

The payables turnover ratio for Idacorp, Inc. has been fluctuating over the past eight quarters. It measures the efficiency with which the company is able to manage its accounts payable by paying off its suppliers.

In Q4 2023, the payables turnover ratio decreased to 1.63 from the previous quarter's ratio of 2.55, indicating that the company took longer to pay its suppliers compared to the previous quarter. This could be a potential concern as it may signal a decrease in liquidity or strained supplier relationships.

Looking at a trend over the last two years, the payables turnover ratio has generally been declining, with some fluctuations. The ratios in Q3 and Q2 2022 were relatively high at 2.50 and 2.67, respectively, but have since decreased. This may suggest that the company is taking longer to pay its suppliers, which could potentially strain relationships or indicate cash flow issues.

On the other hand, the payables turnover ratio in Q1 2022 was the highest at 3.40, implying that the company was more efficient in managing its payables during that period.

Overall, further analysis of Idacorp, Inc.'s payables turnover ratio alongside other financial metrics and industry benchmarks would be necessary to provide a more comprehensive assessment of the company's financial health and operational efficiency.