Monro Muffler Brake Inc (MNRO)
Payables turnover
| Mar 31, 2024 | Dec 23, 2023 | Sep 23, 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cost of revenue (ttm) | US$ in thousands | 450,778 | 614,184 | 615,084 | 414,067 | 429,512 | 444,484 | 658,707 | 868,147 | 853,556 | 672,650 | 457,127 | 423,126 | 366,488 | 513,194 | 718,123 | 743,424 | 779,864 | 773,011 | 760,226 | 745,343 |
| Payables | US$ in thousands | 251,940 | 287,330 | 280,350 | 275,626 | 261,724 | 228,355 | 184,098 | 155,948 | 131,989 | 117,893 | 121,148 | 121,378 | 112,378 | 131,852 | 127,615 | 110,853 | 99,504 | 115,512 | 108,090 | 104,828 |
| Payables turnover | 1.79 | 2.14 | 2.19 | 1.50 | 1.64 | 1.95 | 3.58 | 5.57 | 6.47 | 5.71 | 3.77 | 3.49 | 3.26 | 3.89 | 5.63 | 6.71 | 7.84 | 6.69 | 7.03 | 7.11 |
March 31, 2024 calculation
Payables turnover = Cost of revenue (ttm) ÷ Payables
= $450,778K ÷ $251,940K
= 1.79
Monro Muffler Brake Inc's payables turnover ratio has been fluctuating over the past few quarters. The payables turnover ratio measures how quickly a company pays its suppliers.
In the latest quarter, ending March 31, 2024, the payables turnover ratio was 1.79, indicating that the company pays its suppliers approximately 1.79 times a year. This suggests that the company is taking longer to pay its bills compared to the previous quarter's ratio of 2.14.
Looking at the trend over the last few quarters, there was a significant decrease in the payables turnover ratio from Jun 30, 2022, to Mar 31, 2023, indicating that the company was taking longer to pay its suppliers during that period. However, the ratio gradually increased from Dec 31, 2022, to Dec 23, 2023, signifying an improvement in the payment cycle.
The payables turnover ratio's historical trend shows variability, with some quarters demonstrating a faster payment cycle (e.g., Jun 30, 2019), while others showing a slower payment cycle (e.g., Sep 30, 2022).
In conclusion, Monro Muffler Brake Inc's payables turnover ratio has displayed inconsistencies, indicating fluctuations in its payment practices. Further analysis would be necessary to determine the reasons behind these fluctuations and their potential impact on the company's financial health.
Peer comparison
Mar 31, 2024