NewJersey Resources Corporation (NJR)

Payables turnover

		Sep 30, 2023	Sep 30, 2022	Sep 30, 2021	Sep 30, 2020	Sep 30, 2019
Cost of revenue	US$ in thousands	17,021	16,815	102,814	11,593	20,986
Payables	US$ in thousands	151,790	156,580	223,497	141,500	129,724
Payables turnover		0.11	0.11	0.46	0.08	0.16

September 30, 2023 calculation

Payables turnover = Cost of revenue ÷ Payables
= $17,021K ÷ $151,790K
= 0.11

As the data for payables turnover is not available, it is not possible to conduct a detailed analysis of New Jersey Resources Corporation's payables turnover. Payables turnover is a financial ratio that measures how efficiently a company is managing its payments to suppliers and vendors. It is calculated by dividing the cost of goods sold by the average accounts payable during a specific period. Without the specific information for this ratio, it is not feasible to ascertain the company's efficiency in managing its payables over the years in question. To perform a comprehensive analysis, the specific data for each period would be required.