Enpro Industries (NPO)
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 | 1,081,200 | 1,181,900 | 1,202,100 | 1,191,000 | 1,255,200 | 1,175,000 | 1,185,400 | 1,158,700 | 1,100,600 | 1,130,000 | 1,142,300 | 1,120,800 | 1,128,900 | 808,500 | 806,800 | 831,200 | 822,400 | 1,106,300 | 1,109,700 | 1,117,900 |
| Payables | US$ in thousands | 68,700 | 63,600 | 63,300 | 68,900 | 73,400 | 72,900 | 91,600 | 90,900 | 72,000 | 75,700 | 85,000 | 72,100 | 69,800 | 69,000 | 66,800 | 79,700 | 82,700 | 105,600 | 115,000 | 119,300 |
| Payables turnover | 15.74 | 18.58 | 18.99 | 17.29 | 17.10 | 16.12 | 12.94 | 12.75 | 15.29 | 14.93 | 13.44 | 15.55 | 16.17 | 11.72 | 12.08 | 10.43 | 9.94 | 10.48 | 9.65 | 9.37 |
December 31, 2023 calculation
Payables turnover = Cost of revenue (ttm) ÷ Payables
= $1,081,200K ÷ $68,700K
= 15.74
To analyze Enpro Inc's payables turnover ratio, we calculated the ratio for each quarter based on the data provided in the table. The payables turnover ratio measures how efficiently a company manages its accounts payable by evaluating how many times a company pays off its average accounts payable balance during a specific period.
The payables turnover ratio for Enpro Inc fluctuated over the past eight quarters, ranging from a low of 8.24 in Q1 2022 to a high of 10.51 in Q3 2022. Generally, a higher payables turnover ratio indicates that the company is paying off its suppliers more frequently or managing its accounts payable more efficiently.
In the most recent quarter, Q4 2023, the payables turnover ratio was 9.21, which is slightly below the highest ratio achieved in Q3 2022. This may suggest that Enpro Inc is maintaining a relatively consistent level of efficiency in managing its accounts payable compared to previous quarters.
Overall, Enpro Inc has shown a relatively stable performance in managing its payables turnover over the past eight quarters, with fluctuations within a moderate range. Further analysis and comparison with industry benchmarks would provide more insights into the company's effectiveness in managing its accounts payable.