Mister Car Wash Inc (MCW)
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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cost of revenue (ttm) | US$ in thousands | 152,559 | 145,423 | 143,653 | 141,415 | 138,557 | 140,499 | 137,635 | 300,646 | |||
| Payables | US$ in thousands | 33,641 | 34,791 | 36,119 | 30,379 | 25,649 | 27,589 | 25,512 | 33,869 | 27,346 | 26,716 | 24,160 |
| Payables turnover | 4.53 | 4.18 | 3.98 | 4.66 | 5.40 | 5.09 | 5.39 | 8.88 |
December 31, 2023 calculation
Payables turnover = Cost of revenue (ttm) ÷ Payables
= $152,559K ÷ $33,641K
= 4.53
Looking at the payables turnover ratio of Mister Car Wash Inc over the past five quarters, the trend displays some fluctuations. In Q4 2022, the payables turnover ratio was at its highest, standing at 10.47, indicating that the company paid off its accounts payable obligations more than 10 times during that quarter. However, this ratio saw a decrease in subsequent quarters, reaching its lowest point in Q2 2023 at 7.51.
In the most recent quarter, Q4 2023, there was a slight increase in the payables turnover ratio to 8.30. This suggests that the company improved its efficiency in paying off its accounts payable compared to the previous quarter. Overall, the payables turnover ratio for Mister Car Wash Inc has shown variability over the quarters, but it appears that the company is effectively managing its accounts payable and payments to suppliers.
Peer comparison
Dec 31, 2023