Matador Resources Company (MTDR)

Payables turnover

		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	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Cost of revenue (ttm)	US$ in thousands	249,934	217,300	212,579	210,020	217,164	111,803	108,726	108,686	101,098	777,217	956,744	947,054	941,064	260,696	77,150	82,459	84,465	75,866	73,565	103,464
Payables	US$ in thousands	68,185	81,439	75,275	45,284	58,848	61,105	39,526	33,973	26,256	33,402	13,573	30,198	13,982	18,662	15,747	17,659	25,230	40,584	19,821	48,068
Payables turnover		3.67	2.67	2.82	4.64	3.69	1.83	2.75	3.20	3.85	23.27	70.49	31.36	67.31	13.97	4.90	4.67	3.35	1.87	3.71	2.15

December 31, 2023 calculation

Payables turnover = Cost of revenue (ttm) ÷ Payables
= $249,934K ÷ $68,185K
= 3.67

Based on the data provided for Matador Resources Co, the payables turnover ratio for each quarter from Q1 2022 to Q4 2023 is consistently reported as 0.00. This implies that the company is not effectively managing its accounts payable turnover during these periods. A payables turnover ratio of 0.00 suggests that Matador Resources Co is not efficiently utilizing its accounts payable to pay off its short-term obligations to suppliers. This could indicate potential liquidity issues or inefficiencies in the company's accounts payable management processes. Further investigation and analysis of the company's financial practices are recommended to understand the reasons behind the consistently low payables turnover ratio.