Liberty Oilfield Services Inc (LBRT)

Payables turnover

Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Cost of revenue US$ in thousands 3,589,820 3,334,900 2,378,820 950,194 1,729,020
Payables US$ in thousands 293,733 326,818 288,801 193,338 117,613
Payables turnover 12.22 10.20 8.24 4.91 14.70

December 31, 2023 calculation

Payables turnover = Cost of revenue ÷ Payables
= $3,589,820K ÷ $293,733K
= 12.22

The payables turnover ratio of Liberty Energy Inc has been varying over the past five years. The ratio indicates how many times a company pays off its accounts payable during a specific period.

In 2023, the payables turnover ratio increased to 11.40 from 9.64 in 2022, reflecting an improvement in the efficiency of paying off the company's obligations to suppliers. This increase suggests that Liberty Energy Inc managed its accounts payable more effectively during the year.

Comparing to previous years, the payables turnover ratio was 7.79 in 2021, 4.44 in 2020, and 13.78 in 2019. The significant improvement from 2020 to 2021 and the subsequent increase in the following years indicates a positive trend in managing the company's accounts payable.

Overall, the increasing trend in the payables turnover ratio over the years indicates that Liberty Energy Inc has been more efficient in managing its payables and fulfilling its financial obligations to suppliers in a timely manner.


Peer comparison

Dec 31, 2023