Northern Oil & Gas Inc (NOG)

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	878,508	620,487	604,891	580,845	558,110	421,262	391,232	368,829	341,570	438,986	618,513	1,362,274	1,363,386	1,316,846	1,130,421	370,433	358,944	133,731	114,768	98,524
Payables	US$ in thousands	192,672	235,129	154,020	134,264	128,582	142,678	141,372	101,696	65,464	65,912	49,186	40,788	35,803	20,372	50,005	58,447	69,395	112,698	93,355	154,339
Payables turnover		4.56	2.64	3.93	4.33	4.34	2.95	2.77	3.63	5.22	6.66	12.57	33.40	38.08	64.64	22.61	6.34	5.17	1.19	1.23	0.64

December 31, 2023 calculation

Payables turnover = Cost of revenue (ttm) ÷ Payables
= $878,508K ÷ $192,672K
= 4.56

Based on the data provided for Northern Oil and Gas Inc., the payables turnover ratio has consistently been reported as 0.00 across all quarters. This indicates that the company is not effectively managing its accounts payable during the periods in question. A payables turnover ratio of 0.00 suggests that the company is not paying its suppliers or vendors in a timely manner, which could potentially strain relationships with these stakeholders and impact the company's creditworthiness. Further assessment of the company's payables management practices and liquidity position would be necessary to understand the reasons behind the consistently low payables turnover ratio.