Knowles Cor (KN)
Payables turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Cost of revenue | US$ in thousands | 424,200 | 488,400 | 508,600 | 493,100 | 526,800 |
| Payables | US$ in thousands | 51,300 | 41,400 | 90,900 | 70,300 | 87,700 |
| Payables turnover | 8.27 | 11.80 | 5.60 | 7.01 | 6.01 |
December 31, 2023 calculation
Payables turnover = Cost of revenue ÷ Payables
= $424,200K ÷ $51,300K
= 8.27
The payables turnover ratio for Knowles Corp has fluctuated over the past five years. In 2023, the payables turnover ratio was 8.49, indicating that the company converted its accounts payable into purchases approximately 8.49 times during the year. This was a decrease from 2022 when the ratio was 11.02, suggesting a longer period of time to pay off its suppliers. However, compared to 2021 and 2019, the payables turnover ratio improved, indicating a more efficient management of accounts payable in those years. Overall, the trend in payables turnover for Knowles Corp shows variability, with potential implications for its liquidity and cash flow management.
Peer comparison
Dec 31, 2023