Lowe's Companies Inc (LOW)
Payables turnover
| Feb 2, 2024 | Feb 3, 2023 | Jan 28, 2022 | Jan 29, 2021 | Jan 31, 2020 | ||
|---|---|---|---|---|---|---|
| Cost of revenue | US$ in thousands | 74,820,000 | 91,058,000 | 84,157,000 | 79,950,000 | 65,834,000 |
| Payables | US$ in thousands | 8,704,000 | 10,524,000 | 11,354,000 | 10,884,000 | 7,659,000 |
| Payables turnover | 8.60 | 8.65 | 7.41 | 7.35 | 8.60 |
February 2, 2024 calculation
Payables turnover = Cost of revenue ÷ Payables
= $74,820,000K ÷ $8,704,000K
= 8.60
Lowe's Companies Inc's payables turnover has exhibited variability in recent years. The ratio was 8.60 in February 2, 2024, which indicates that the company converted its accounts payables into purchases about 8.60 times during the fiscal year. This was slightly lower compared to the prior year's figure of 8.65 on February 3, 2023. Over the past five years, the payables turnover has ranged from a low of 7.35 in January 29, 2021, to a high of 8.65 in February 3, 2023. The variation in the payables turnover ratio suggests fluctuations in the efficiency of managing and paying off the company's suppliers and trade payables.
Peer comparison
Feb 2, 2024