Marathon Oil Corporation (MRO)

Payables turnover

Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Cost of revenue US$ in thousands 359,000 317,000 523,000 923,000 522,000
Payables US$ in thousands 1,364,000 1,279,000 1,110,000 837,000 1,307,000
Payables turnover 0.26 0.25 0.47 1.10 0.40

December 31, 2023 calculation

Payables turnover = Cost of revenue ÷ Payables
= $359,000K ÷ $1,364,000K
= 0.26

The payables turnover ratio for Marathon Oil Corporation has fluctuated over the past five years. The ratio indicates how efficiently the company is managing its accounts payable by measuring how many times during a year the company pays off its creditors.

In 2023, the payables turnover ratio improved to 0.61 from 0.54 in 2022 and 0.66 in 2020, showing that the company took slightly longer to pay its suppliers compared to the previous year. However, the ratio remains higher than in 2021 when it was 0.48, indicating a more efficient management of payables.

Overall, Marathon Oil Corporation's payables turnover has shown some variability but has generally remained within a reasonable range over the past five years. This indicates that the company is effectively managing its accounts payable and relationships with its suppliers.


Peer comparison

Dec 31, 2023


See also:

Marathon Oil Corporation Payables Turnover