Newmont Goldcorp Corp (NEM)

Payables turnover

Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Cost of revenue US$ in thousands 9,245,000 8,462,000 6,492,000 5,578,000 746,000
Payables US$ in thousands 960,000 633,000 518,000 493,000 539,000
Payables turnover 9.63 13.37 12.53 11.31 1.38

December 31, 2023 calculation

Payables turnover = Cost of revenue ÷ Payables
= $9,245,000K ÷ $960,000K
= 9.63

The payables turnover for Newmont Corp has fluctuated over the past five years, with a value of 6.98 in 2023, 10.22 in 2022, 10.49 in 2021, 10.17 in 2020, and 9.64 in 2019. A higher payables turnover ratio indicates that the company is paying off its suppliers more quickly, which could suggest efficient management of payables and potentially good relationships with suppliers.

The decreasing trend in the payables turnover ratio from 2021 to 2023 may suggest that Newmont Corp is taking longer to pay off its suppliers compared to previous years. This could be due to various reasons such as changes in payment terms, cash flow constraints, or strategic decisions regarding working capital management. It would be important to further investigate the reasons behind this trend to fully understand the company's payables management strategy.


See also:

Newmont Goldcorp Corp Payables Turnover