Macy’s Inc (M)
Payables turnover
| Feb 3, 2024 | Oct 28, 2023 | Jul 29, 2023 | Apr 29, 2023 | Jan 28, 2023 | Oct 29, 2022 | Jul 30, 2022 | Apr 30, 2022 | Jan 29, 2022 | Oct 30, 2021 | Jul 31, 2021 | May 1, 2021 | Jan 30, 2021 | Oct 31, 2020 | Aug 1, 2020 | May 2, 2020 | Feb 1, 2020 | Nov 2, 2019 | Aug 3, 2019 | May 4, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cost of revenue (ttm) | US$ in thousands | 23,717,000 | 23,121,000 | 23,440,000 | 23,685,000 | 23,863,000 | 24,016,000 | 23,920,000 | 23,768,000 | 23,306,000 | 21,749,000 | 20,868,000 | 19,961,000 | 22,579,000 | 24,023,000 | 25,037,000 | 26,257,000 | 24,492,000 | 24,303,000 | 24,465,000 | 24,389,000 |
| Payables | US$ in thousands | 1,913,000 | 3,466,000 | 1,978,000 | 2,415,000 | 2,053,000 | 3,861,000 | 2,290,000 | 2,865,000 | 2,222,000 | 3,796,000 | 2,476,000 | 2,545,000 | 1,978,000 | 3,267,000 | 1,409,000 | 2,196,000 | 1,682,000 | 3,427,000 | 1,674,000 | 1,950,000 |
| Payables turnover | 12.40 | 6.67 | 11.85 | 9.81 | 11.62 | 6.22 | 10.45 | 8.30 | 10.49 | 5.73 | 8.43 | 7.84 | 11.42 | 7.35 | 17.77 | 11.96 | 14.56 | 7.09 | 14.61 | 12.51 |
February 3, 2024 calculation
Payables turnover = Cost of revenue (ttm) ÷ Payables
= $23,717,000K ÷ $1,913,000K
= 12.40
The payables turnover ratio for Macy’s Inc has shown fluctuations over the past several periods, indicating changes in the company's ability to manage its accounts payable. In general, a higher payables turnover ratio is considered more favorable as it suggests that the company is paying off its suppliers more quickly.
Looking at the trend, the payables turnover ratio ranged from a low of 5.73 to a high of 17.77 over the periods provided. The highest ratio of 17.77 was recorded on August 1, 2020, suggesting that Macy’s was efficiently managing its payables during that period. On the other hand, the lowest ratio of 5.73 was observed on October 30, 2021, indicating a potential slowdown in the company's payment of its suppliers.
Analyzing the overall trend, Macy’s payables turnover ratio seems to have varied significantly, possibly influenced by changes in the company's purchasing and payment strategies, as well as macroeconomic conditions impacting the retail industry. It is important to further investigate the reasons behind these fluctuations to understand the company's working capital management and supplier relationships.
Peer comparison
Feb 3, 2024