Kirby Corporation (KEX)

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	343,313	339,441	335,697	323,376	310,292	297,956	629,353	621,518	615,382	607,242	262,560	265,713	829,438	796,868	799,428	802,685	242,127	289,307	294,683	318,121
Payables	US$ in thousands	269,378	258,126	279,519	278,467	278,081	241,623	234,640	218,907	199,088	181,313	188,724	175,890	162,507	156,950	177,290	227,020	206,778	212,279	212,147	275,570
Payables turnover		1.27	1.32	1.20	1.16	1.12	1.23	2.68	2.84	3.09	3.35	1.39	1.51	5.10	5.08	4.51	3.54	1.17	1.36	1.39	1.15

December 31, 2023 calculation

Payables turnover = Cost of revenue (ttm) ÷ Payables
= $343,313K ÷ $269,378K
= 1.27

The payables turnover ratio for Kirby Corp. has consistently been reported as 0.00 across all quarters in the provided data set. This indicates that the company is not effectively managing its accounts payable during the given periods as there is no turnover of payables occurring.

A payables turnover ratio of 0.00 suggests that the company is not utilizing its payable balances efficiently to pay off suppliers or creditors within the period. This may signal a potential issue with the company's liquidity management or possibly delayed payment practices.

Further analysis and comparison with industry peers or historical data would be beneficial to understand the reasons behind the consistently low payables turnover ratio and to assess the impact on Kirby Corp.'s overall financial health and operational efficiency.