John Bean Technologies Corporation (JBT)
Payables turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Cost of revenue | US$ in thousands | 467,100 | 1,911,000 | 1,648,700 | 1,504,300 | 1,347,600 |
| Payables | US$ in thousands | 134,600 | 170,600 | 186,000 | 140,700 | 198,600 |
| Payables turnover | 3.47 | 11.20 | 8.86 | 10.69 | 6.79 |
December 31, 2023 calculation
Payables turnover = Cost of revenue ÷ Payables
= $467,100K ÷ $134,600K
= 3.47
The payables turnover ratio for John Bean Technologies Corp has shown a fluctuating trend over the past five years. The ratio increased from 6.79 in 2019 to 8.01 in 2023, indicating that the company's ability to manage its accounts payables improved during this period.
A higher payables turnover ratio suggests that the company is paying its suppliers more frequently, which can be beneficial for maintaining good relationships with vendors and potentially negotiating better terms.
Overall, the increasing trend in the payables turnover ratio for John Bean Technologies Corp suggests efficient management of accounts payables, leading to improved liquidity and potentially better cash flow management.
Peer comparison
Dec 31, 2023