MYR Group Inc (MYRG)
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 | 3,520,609 | 3,380,564 | 3,245,610 | 3,070,776 | 2,897,235 | 2,684,889 | 2,491,482 | 2,429,948 | 2,382,816 | 2,350,168 | 2,353,938 | 2,227,128 | 2,164,542 | 2,132,636 | 2,116,322 | 2,062,219 | 2,017,797 | 1,865,561 | 1,652,436 | 1,513,190 |
| Payables | US$ in thousands | 359,363 | 377,690 | 337,699 | 294,310 | 315,323 | 281,708 | 251,646 | 223,703 | 200,744 | 193,218 | 211,975 | 192,241 | 162,580 | 205,601 | 154,902 | 174,278 | 192,107 | 206,879 | 166,350 | 170,352 |
| Payables turnover | 9.80 | 8.95 | 9.61 | 10.43 | 9.19 | 9.53 | 9.90 | 10.86 | 11.87 | 12.16 | 11.10 | 11.59 | 13.31 | 10.37 | 13.66 | 11.83 | 10.50 | 9.02 | 9.93 | 8.88 |
December 31, 2023 calculation
Payables turnover = Cost of revenue (ttm) ÷ Payables
= $3,520,609K ÷ $359,363K
= 9.80
The payables turnover ratio for MYR Group Inc has exhibited some fluctuations over the past eight quarters ranging from 8.32 to 9.90. The ratio indicates how many times a company pays off its accounts payable within a specific period, reflecting its liquidity and efficiency in managing its trade credit obligations.
The company's payables turnover ratio has generally been in the range of approximately 8.32 to 9.90, demonstrating a consistent ability to efficiently settle its payables. A higher ratio implies that the company is paying off its suppliers more frequently, which could signify better cash management or favorable credit terms.
Overall, MYR Group Inc's payables turnover ratio appears to be relatively stable, showing only minor fluctuations throughout the quarters under review. However, further analysis and comparison with industry benchmarks would provide a more comprehensive assessment of the company's payables management efficiency.
Peer comparison
Dec 31, 2023