Ingredion Incorporated (INGR)
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 | 6,481,000 | 6,591,000 | 6,618,000 | 6,649,000 | 6,513,000 | 6,368,000 | 6,142,000 | 5,887,000 | 6,003,000 | 5,811,000 | 5,582,000 | 5,271,000 | 4,872,000 | 5,166,000 | 5,108,000 | 5,131,000 | 5,004,000 | 3,395,000 | 3,404,000 | 3,433,000 |
| Payables | US$ in thousands | 778,000 | — | — | — | 873,000 | — | — | — | 774,000 | — | — | — | 599,000 | — | — | — | 504,000 | — | — | — |
| Payables turnover | 8.33 | — | — | — | 7.46 | — | — | — | 7.76 | — | — | — | 8.13 | — | — | — | 9.93 | — | — | — |
December 31, 2023 calculation
Payables turnover = Cost of revenue (ttm) ÷ Payables
= $6,481,000K ÷ $778,000K
= 8.33
The payables turnover ratio for Ingredion Inc can be observed to have increased from 7.39 in Q4 2022 to 8.24 in Q4 2023. This signifies that during Q4 2023, Ingredion Inc was able to pay off its accounts payable obligations more frequently compared to the same period in the previous year. However, the lack of data for the other quarters in 2023 limits a more comprehensive analysis of the trend throughout the year. Nonetheless, a higher payables turnover ratio generally indicates a more efficient management of accounts payable, potentially showcasing the company's ability to settle its short-term obligations in a timely manner.
Peer comparison
Dec 31, 2023