Marriott International Inc (MAR)

Payables turnover

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Cost of revenue (ttm)	US$ in thousands	1,805,000	1,552,000	1,529,000	1,520,000	1,526,000	1,338,000	1,334,000	1,290,000	1,293,000	1,271,000	1,190,000	1,181,000	1,240,000	1,697,000	1,786,000	1,837,000	1,789,000	1,573,000	1,574,000	1,562,000
Payables	US$ in thousands	738,000	696,000	670,000	722,000	746,000	746,000	773,000	737,000	726,000	711,000	626,000	535,000	527,000	486,000	555,000	828,000	720,000	813,000	927,000	745,000
Payables turnover		2.45	2.23	2.28	2.11	2.05	1.79	1.73	1.75	1.78	1.79	1.90	2.21	2.35	3.49	3.22	2.22	2.48	1.93	1.70	2.10

December 31, 2023 calculation

Payables turnover = Cost of revenue (ttm) ÷ Payables
= $1,805,000K ÷ $738,000K
= 2.45

Marriott International, Inc.'s payables turnover ratio has shown a significant decline in recent quarters. The payables turnover ratio for Q4 2023, Q3 2023, Q2 2023, and Q1 2023 being 0.00 indicates that the company is taking longer to pay its suppliers compared to previous periods. This could imply a potential liquidity issue or changes in payment terms with suppliers.

In contrast, in Q2 2022 and Q1 2022, the payables turnover ratio was 3.77 and 7.02 respectively, showing that the company was managing its payables more efficiently during that period. A higher payables turnover ratio indicates that the company is paying its suppliers more frequently or in a timelier manner.

Overall, the recent downward trend in the payables turnover ratio suggests a need for further investigation into Marriott International, Inc.'s cash flow management and supplier relationships to address any potential cash flow challenges or operational adjustments.