Keurig Dr Pepper Inc (KDP)
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 | 12,020,000 | 12,260,000 | 12,572,000 | 12,535,000 | 12,202,000 | 11,930,000 | 11,154,000 | 10,579,000 | 10,395,000 | 9,752,000 | 9,597,000 | 9,536,000 | 9,513,000 | 9,345,000 | 9,371,000 | 9,258,000 | 9,114,000 | 9,116,000 | 9,311,000 | 8,564,000 |
| Payables | US$ in thousands | 3,597,000 | 4,090,000 | 4,601,000 | 4,947,000 | 5,206,000 | 5,284,000 | 4,950,000 | 4,510,000 | 4,316,000 | 4,072,000 | 3,976,000 | 3,871,000 | 3,740,000 | 3,517,000 | 3,377,000 | 3,238,000 | 3,176,000 | 2,976,000 | 2,909,000 | 2,558,000 |
| Payables turnover | 3.34 | 3.00 | 2.73 | 2.53 | 2.34 | 2.26 | 2.25 | 2.35 | 2.41 | 2.39 | 2.41 | 2.46 | 2.54 | 2.66 | 2.77 | 2.86 | 2.87 | 3.06 | 3.20 | 3.35 |
December 31, 2023 calculation
Payables turnover = Cost of revenue (ttm) ÷ Payables
= $12,020,000K ÷ $3,597,000K
= 3.34
The payables turnover ratio for Keurig Dr Pepper Inc has shown a fluctuating trend over the past eight quarters. The ratio indicates how efficiently the company is managing its payable obligations by paying its suppliers within a particular period.
In Q4 2023, the payables turnover ratio increased to 1.87 compared to the previous quarter ratio of 1.68 in Q3 2023. This indicates that the company is paying its suppliers more frequently in Q4 2023, which could imply improved liquidity or more efficient working capital management.
Looking further back, the payables turnover ratio has generally been on an upward trend since Q1 2022, with some fluctuations quarter-over-quarter. The ratio has increased steadily from 1.29 in Q1 2022 to 1.87 in Q4 2023, showing that Keurig Dr Pepper Inc has been managing its payables more efficiently over time.
Overall, an increasing payables turnover ratio is a positive sign as it indicates that the company is efficiently managing its vendor payments. However, it's essential to consider the industry norms and compare the ratio with competitors to get a better understanding of Keurig Dr Pepper Inc's payables management efficiency.
Peer comparison
Dec 31, 2023