Lindsay Corporation (LNN)
Payables turnover
| Feb 29, 2024 | Nov 30, 2023 | Aug 31, 2023 | May 31, 2023 | Feb 28, 2023 | Nov 30, 2022 | Aug 31, 2022 | May 31, 2022 | Feb 28, 2022 | Nov 30, 2021 | Aug 31, 2021 | May 31, 2021 | Feb 28, 2021 | Nov 30, 2020 | Aug 31, 2020 | May 31, 2020 | Feb 29, 2020 | Nov 30, 2019 | Aug 31, 2019 | May 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cost of revenue (ttm) | US$ in thousands | 439,965 | 449,383 | 461,069 | 479,533 | 520,780 | 565,990 | 571,565 | 558,567 | 523,868 | 469,078 | 417,441 | 380,398 | 345,928 | 323,907 | 322,149 | 309,509 | 317,154 | 321,480 | 329,464 | 350,064 |
| Payables | US$ in thousands | 47,903 | 52,242 | 44,278 | 42,207 | 52,998 | 58,535 | 60,036 | 72,350 | 74,345 | 58,908 | 45,209 | 49,351 | 39,934 | 36,263 | 29,554 | 35,310 | 33,307 | 30,097 | 29,434 | 37,509 |
| Payables turnover | 9.18 | 8.60 | 10.41 | 11.36 | 9.83 | 9.67 | 9.52 | 7.72 | 7.05 | 7.96 | 9.23 | 7.71 | 8.66 | 8.93 | 10.90 | 8.77 | 9.52 | 10.68 | 11.19 | 9.33 |
February 29, 2024 calculation
Payables turnover = Cost of revenue (ttm) ÷ Payables
= $439,965K ÷ $47,903K
= 9.18
The payables turnover for Lindsay Corporation has exhibited fluctuation over the past 20 reporting periods, ranging from a low of 7.05 to a high of 11.36. The average payables turnover ratio during this period is approximately 9.09 times.
The payables turnover ratio indicates the company's efficiency in managing its accounts payable. A higher turnover ratio suggests that the company is paying its suppliers more frequently, which can be beneficial in terms of maintaining good relationships with suppliers and potentially earning early payment discounts.
Lindsay Corporation's payables turnover ratio has generally been above average, indicating that the company is efficiently managing its accounts payable. There was a noticeable increase in the payables turnover ratio in the most recent period, which may suggest that the company is improving its payment processes or negotiating better terms with suppliers.
Overall, the trend in Lindsay Corporation's payables turnover ratio reflects a good level of efficiency in managing its accounts payable, which is a positive indicator of the company's financial health.
Peer comparison
Feb 29, 2024