MGE Energy Inc (MGEE)

Payables turnover

		Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	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
Cost of revenue (ttm)	US$ in thousands	25,769	24,123	23,023	23,023	22,923	21,342	20,642	20,242	19,542	18,035	18,935	19,235	19,535	20,360	20,160	19,760	18,460	18,403	18,728	19,228
Payables	US$ in thousands	77,466	45,710	49,834	41,594	65,451	53,593	38,571	38,720	59,334	60,227	88,833	44,690	64,149	57,431	46,625	53,840	54,642	56,054	40,701	39,188
Payables turnover		0.33	0.53	0.46	0.55	0.35	0.40	0.54	0.52	0.33	0.30	0.21	0.43	0.30	0.35	0.43	0.37	0.34	0.33	0.46	0.49

December 31, 2024 calculation

Payables turnover = Cost of revenue (ttm) ÷ Payables
= $25,769K ÷ $77,466K
= 0.33

The payables turnover ratio for MGE Energy Inc has exhibited fluctuations over the past few years. It decreased from 0.49 in March 2020 to 0.30 in December 2021, indicating a slowdown in the rate at which the company pays its suppliers. However, there was a slight improvement in the payables turnover ratio by March 2023, reaching 0.52, suggesting the company was managing its payables more efficiently. Subsequently, the ratio continued to increase, hitting 0.55 by March 2024. This upward trend indicates that the company was able to settle its payables more frequently and efficiently during this period. Overall, the payables turnover ratio for MGE Energy Inc has shown variability, but the recent increase suggests enhanced management of its accounts payable.