Myers Industries Inc (MYE)

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	748,157	770,055	799,211	817,377	822,570	816,136	796,154	757,990	719,606	663,525	594,152	527,694	475,013	452,141	450,432	468,452	487,410	510,774	520,874	524,099
Payables	US$ in thousands	79,050	80,760	81,744	93,477	73,536	97,131	104,314	101,276	81,690	78,552	81,614	69,933	61,150	47,562	44,857	49,456	46,867	54,196	52,827	53,818
Payables turnover		9.46	9.54	9.78	8.74	11.19	8.40	7.63	7.48	8.81	8.45	7.28	7.55	7.77	9.51	10.04	9.47	10.40	9.42	9.86	9.74

December 31, 2023 calculation

Payables turnover = Cost of revenue (ttm) ÷ Payables
= $748,157K ÷ $79,050K
= 9.46

Myers Industries Inc.'s payables turnover ratio has shown a varying trend over the past eight quarters. The payables turnover ratio measures how efficiently a company is managing its accounts payable.

In Q4 2023, the payables turnover ratio was 7.01, a slight decrease from the previous quarter. This indicates that the company is taking approximately 7.01 times to pay off its accounts payable within a year, showing a moderate level of efficiency in managing its payables.

Compared to the same quarter in the previous year, Myers Industries Inc.'s payables turnover ratio has declined. In Q4 2022, the ratio was higher at 8.38, suggesting that the company was more efficient in paying off its accounts payable a year ago.

Overall, the payables turnover ratio of Myers Industries Inc. has generally been in the range of 5.72 to 8.38 over the past eight quarters. It is essential for the company to monitor and maintain an optimal payables turnover ratio to ensure effective management of its accounts payable and maintain good relationships with its suppliers.