ManpowerGroup Inc (MAN)

Payables turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Cost of revenue	US$ in thousands	18,898,000	19,336,500	20,178,400	18,045,400	20,354,400
Payables	US$ in thousands	—	—	—	—	—
Payables turnover		—	—	—	—	—

December 31, 2023 calculation

Payables turnover = Cost of revenue ÷ Payables
= $18,898,000K ÷ $—K
= —

The payables turnover ratio for ManpowerGroup has shown a fluctuating trend over the past five years. In 2019, the company had a relatively high payables turnover ratio of 7.07, indicating that it was able to pay off its accounts payable obligations approximately 7.07 times during the year. This suggests a more efficient management of payables during that period.

However, the payables turnover ratio decreased in subsequent years, reaching its lowest point in 2021 at 5.70. This suggests that the company took longer to pay off its accounts payable compared to the prior year. The slight increase in 2022 to 5.74 may indicate some improvement in managing payable obligations.

For the most recent year on record, 2023, the payables turnover ratio increased slightly to 5.71. This implies that the company's ability to pay off its accounts payable improved marginally compared to the previous year, but remains below the levels seen in earlier years.

Overall, while the payables turnover ratio has fluctuated over the years, it is essential for ManpowerGroup to carefully manage its payables to ensure timely payment and maintain good relationships with its suppliers while optimizing cash flow efficiency.