Middlesex Water Company (MSEX)
Payables turnover
Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
---|---|---|---|---|---|---|
Cost of revenue | US$ in thousands | 116,038 | 48,337 | 43,159 | 40,376 | 37,698 |
Payables | US$ in thousands | 27,618 | 24,847 | 21,125 | 30,443 | 23,306 |
Payables turnover | 4.20 | 1.95 | 2.04 | 1.33 | 1.62 |
December 31, 2023 calculation
Payables turnover = Cost of revenue ÷ Payables
= $116,038K ÷ $27,618K
= 4.20
The payables turnover ratio for Middlesex Water Co. has been consistently reported as 0.00 for the years ending December 31st, from 2019 to 2023. A payables turnover ratio of 0.00 indicates that the company is not effectively managing its accounts payable. This could be due to various reasons such as extended payment terms with suppliers, inadequate cash flow management, or inventory management issues. The lack of movement in this ratio over the years may suggest a consistent pattern of inefficiency in managing the company's payables. Further analysis of the company's financial and operational practices is recommended to address this concerning trend and improve the payables turnover performance.
Peer comparison
Dec 31, 2023