JB Hunt Transport Services Inc (JBHT)
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 | 5,454,510 | 5,527,340 | 5,625,260 | 5,734,150 | 5,588,260 | 5,278,240 | 4,937,610 | 4,537,910 | 4,304,313 | 4,078,962 | 3,887,336 | 3,706,727 | 3,634,615 | 3,590,372 | 3,589,165 | 3,630,083 | 3,569,513 | 3,500,856 | 3,418,940 | 3,295,666 |
| Payables | US$ in thousands | 737,364 | 808,803 | 767,428 | 749,774 | 798,776 | 838,859 | 886,617 | 854,879 | 772,736 | 749,071 | 674,856 | 641,887 | 587,510 | 603,523 | 513,517 | 497,649 | 602,601 | 654,959 | 640,324 | 594,704 |
| Payables turnover | 7.40 | 6.83 | 7.33 | 7.65 | 7.00 | 6.29 | 5.57 | 5.31 | 5.57 | 5.45 | 5.76 | 5.77 | 6.19 | 5.95 | 6.99 | 7.29 | 5.92 | 5.35 | 5.34 | 5.54 |
December 31, 2023 calculation
Payables turnover = Cost of revenue (ttm) ÷ Payables
= $5,454,510K ÷ $737,364K
= 7.40
The payables turnover ratio for J.B. Hunt Transport Services, Inc. has shown fluctuations over the past eight quarters. The ratio indicates how efficiently the company is managing its accounts payable by calculating how many times during a period the company pays off its suppliers.
In Q4 2023, the payables turnover ratio was 1.02, slightly higher than the previous quarter at 0.99. This suggests that the company took approximately 1.02 quarters to pay off its accounts payable, reflecting a moderately efficient management of its trade credit obligations.
Looking back, in Q1 2023, the payables turnover ratio was at its peak for the period at 1.25, indicating that the company was more efficient in settling its payables in that quarter compared to others. Conversely, in Q2 2022 and Q1 2022, the payables turnover ratios were relatively lower at 0.84 and 0.71, respectively, suggesting that the company took longer to pay off its suppliers during those periods.
Overall, the payables turnover ratios exhibit variability, indicating fluctuating levels of efficiency in managing accounts payable over the quarters. It would be important for stakeholders to further analyze the reasons behind these fluctuations and to monitor if the trend is indicative of any underlying issues or if it reflects a normal course of business operations.
Peer comparison
Dec 31, 2023