John B Sanfilippo & Son Inc (JBSS)
Payables turnover
| Jun 30, 2024 | Jun 30, 2023 | Jun 30, 2022 | Jun 30, 2021 | Jun 30, 2020 | ||
|---|---|---|---|---|---|---|
| Cost of revenue | US$ in thousands | 852,644 | 788,055 | 756,241 | 673,495 | 704,317 |
| Payables | US$ in thousands | 53,436 | 42,680 | 47,720 | 48,861 | 36,323 |
| Payables turnover | 15.96 | 18.46 | 15.85 | 13.78 | 19.39 |
June 30, 2024 calculation
Payables turnover = Cost of revenue ÷ Payables
= $852,644K ÷ $53,436K
= 15.96
The payables turnover ratio for John B Sanfilippo & Son Inc has fluctuated over the past five years. The ratio indicates how efficiently the company is managing its accounts payable by measuring how quickly it pays off its suppliers.
In 2024, the payables turnover ratio stands at 15.96, which is a slight decrease from the previous year's ratio of 18.46. This could suggest that the company took longer to pay off its suppliers in 2024 compared to 2023. However, it's essential to note that a higher payables turnover ratio indicates a shorter period for paying off suppliers, which can sometimes be unfavorable if it indicates a lack of negotiating power with suppliers.
Comparing the 2024 ratio with that of 2020 and 2021, we see that the current ratio is statistically closer to the 2021 ratio of 15.85 than to the 2020 ratio of 19.39. This could imply that the company has somewhat stabilized its payables turnover efficiency after experiencing a significant fluctuation between 2020 and 2021.
Overall, although the payables turnover ratio fluctuated over the past five years, the 2024 figure suggests that John B Sanfilippo & Son Inc is still managing its accounts payable efficiently, albeit at a slightly slower pace compared to the previous year.
Peer comparison
Jun 30, 2024