Nu Skin Enterprises Inc (NUS)
Payables turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Cost of revenue | US$ in thousands | 1,920,560 | 2,129,180 | 2,479,780 | 2,352,190 | 2,182,690 |
| Payables | US$ in thousands | 43,505 | 53,963 | 49,993 | 66,174 | 38,979 |
| Payables turnover | 44.15 | 39.46 | 49.60 | 35.55 | 56.00 |
December 31, 2023 calculation
Payables turnover = Cost of revenue ÷ Payables
= $1,920,560K ÷ $43,505K
= 44.15
The payables turnover ratio for Nu Skin Enterprises, Inc. has fluctuated over the past five years, indicating changes in the company's efficiency in managing its accounts payable.
In 2023, the payables turnover ratio improved to 14.06, compared to 11.69 in 2022. This suggests that the company paid off its accounts payable more frequently during the year, reflecting a stronger liquidity position and potentially better supplier relationships.
Compared to 2021, the payables turnover ratio increased from 13.51 to 14.06 in 2023, indicating that Nu Skin Enterprises was more efficient in managing its trade payables in 2023.
In 2020, the payables turnover ratio was at its lowest at 9.94, reflecting a decrease in the company's ability to quickly pay off its suppliers. However, this improved in the subsequent years.
The highest payables turnover ratio of 14.92 was recorded in 2019, indicating that the company was able to efficiently manage and settle its accounts payable during that year.
Overall, the trend in Nu Skin Enterprises' payables turnover ratio shows variability but demonstrates an overall improvement in recent years, reflecting enhanced efficiency in managing its trade payables.
Peer comparison
Dec 31, 2023