Knight Transportation Inc (KNX)

Payables turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Cost of revenue	US$ in thousands	5,413,270	4,769,750	3,320,860	2,692,060	2,799,140
Payables	US$ in thousands	355,173	220,849	224,844	101,001	99,194
Payables turnover		15.24	21.60	14.77	26.65	28.22

December 31, 2023 calculation

Payables turnover = Cost of revenue ÷ Payables
= $5,413,270K ÷ $355,173K
= 15.24

The payables turnover ratio for Knight-Swift Transportation Holdings Inc has been consistently reported as 0.00 for the past five years from 2019 to 2023. The ratio indicates the company's ability to efficiently manage its accounts payable by paying off its suppliers. A payables turnover ratio of 0.00 suggests that the company is not utilizing its accounts payable effectively or may have negligible payable amounts compared to its cost of goods sold.

A payables turnover ratio of 0.00 over multiple years may indicate either extended payment terms negotiated with suppliers that allow for a delayed payment cycle or potential issues with managing payables efficiently. It could also suggest discrepancies or errors in the financial reporting of payables.

Further analysis and comparison with industry standards and competitors would provide a better understanding of Knight-Swift Transportation Holdings Inc's payables management efficiency and potential areas for improvement.