JB Hunt Transport Services Inc (JBHT)
Payables turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Cost of revenue | US$ in thousands | 5,454,520 | 5,588,190 | 4,304,320 | 3,634,610 | 3,569,510 |
| Payables | US$ in thousands | 737,364 | 798,776 | 772,736 | 587,510 | 602,601 |
| Payables turnover | 7.40 | 7.00 | 5.57 | 6.19 | 5.92 |
December 31, 2023 calculation
Payables turnover = Cost of revenue ÷ Payables
= $5,454,520K ÷ $737,364K
= 7.40
The payables turnover ratio of J.B. Hunt Transport Services, Inc. has fluctuated over the past five years. In 2023, the payables turnover ratio was 1.02, down from 1.17 in 2022 and significantly higher than the previous years. This indicates that the company took longer to pay off its suppliers in 2023 compared to the previous year.
In 2021, the payables turnover ratio was 0.69, which suggests that the company paid its suppliers more frequently during that year. However, the ratio was 0.00 in both 2020 and 2019, indicating missing or negligible data for those years.
Overall, the downward trend from 2022 to 2023 may signal a potentially less efficient management of accounts payables within the company. Further analysis of J.B. Hunt Transport Services, Inc.'s payment practices and financial performance is recommended to gain a deeper understanding of the factors influencing the payables turnover ratio.
Peer comparison
Dec 31, 2023