Norwegian Cruise Line Holdings Ltd (NCLH)

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	7,619,020	7,556,990	7,345,010	6,996,040	6,395,520	5,769,730	4,811,177	3,923,316	3,369,120	2,961,008	2,708,693	2,753,658	5,415,244	6,365,816	7,413,904	8,257,800	6,408,150	6,287,230	6,185,060	6,049,440
Payables	US$ in thousands	174,338	158,414	148,328	203,233	228,742	141,305	100,336	91,786	233,172	94,951	110,628	92,711	83,136	116,464	484,927	364,216	100,777	72,151	75,776	66,665
Payables turnover		43.70	47.70	49.52	34.42	27.96	40.83	47.95	42.74	14.45	31.18	24.48	29.70	65.14	54.66	15.29	22.67	63.59	87.14	81.62	90.74

December 31, 2023 calculation

Payables turnover = Cost of revenue (ttm) ÷ Payables
= $7,619,020K ÷ $174,338K
= 43.70

Norwegian Cruise Line Holdings Ltd's payables turnover has shown fluctuations over the past eight quarters. The payables turnover ratio measures how efficiently a company manages its payments to suppliers. A higher ratio indicates that the company is paying its suppliers more quickly.

In Q4 2023, the payables turnover ratio was 9.61, which decreased from the previous quarter but remained relatively high compared to earlier quarters. This may suggest that the company is taking slightly longer to pay its suppliers in Q4 2023.

During Q3 and Q2 2023, the payables turnover ratios were 10.38 and 10.70, respectively, both demonstrating the company's strong ability to efficiently manage its payables.

In Q1 2023, the ratio dropped to 7.44, indicating a temporary slowdown in the company's payment to suppliers.

Comparing the data to the same period in 2022, the payables turnover ratio has shown improvement, with Q4 2023's ratio of 9.61 being significantly higher than the 5.72 ratio in Q4 2022. This might suggest that the company has been managing its payables more effectively in recent quarters.

Overall, the payables turnover ratio for Norwegian Cruise Line Holdings Ltd has exhibited variability but generally reflects a satisfactory level of efficiency in managing its payments to suppliers.