Mohawk Industries Inc (MHK)
Payables turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Cost of revenue | US$ in thousands | 11,582,400 | 11,608,800 | 9,923,280 | 9,076,870 | 9,325,320 |
| Payables | US$ in thousands | 1,038,020 | 1,094,040 | 1,228,620 | 1,016,900 | 824,956 |
| Payables turnover | 11.16 | 10.61 | 8.08 | 8.93 | 11.30 |
December 31, 2023 calculation
Payables turnover = Cost of revenue ÷ Payables
= $11,582,400K ÷ $1,038,020K
= 11.16
The payables turnover ratio of Mohawk Industries, Inc. has exhibited some fluctuations over the past five years. In 2023, the payables turnover ratio increased to 8.12 from 8.04 in 2022. This indicates that the company's ability to manage its accounts payable improved slightly, as it took approximately 8.12 times to pay off its accounts payable during the year.
Compared to 2021, where the payables turnover ratio was 6.46, the company showed a significant improvement in 2023. This suggests that Mohawk Industries, Inc. managed its accounts payable more efficiently in 2023 compared to the previous year.
In 2019, the payables turnover ratio was the highest at 8.84, indicating that the company was able to pay off its accounts payable almost 9 times during the year. However, there was a subsequent decline in 2020 to 7.00 before recovering in 2021 and making further improvements in 2022 and 2023.
Overall, the trend in Mohawk Industries, Inc.'s payables turnover ratio demonstrates variations over the years, with an overall improvement in 2023 compared to the previous years, suggesting enhanced efficiency in managing its accounts payable.
Peer comparison
Dec 31, 2023