Northwest Natural Gas Co (NWN)

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	192,148	190,288	188,102	183,065	177,161	173,171	171,873	171,053	169,022	165,412	161,578	158,068	152,958	164,744	164,393	159,714	171,357	250,198
Payables	US$ in thousands	145,361	99,326	101,369	111,152	180,667	118,274	135,364	130,557	133,486	94,897	97,854	88,591	97,966	83,813	79,903	86,766	113,370	76,197	76,429	103,207
Payables turnover		1.32	1.92	1.86	1.65	0.98	1.46	1.27	1.31	1.27	1.74	1.65	1.78	1.56	1.97	2.06	1.84	1.51	3.28

December 31, 2023 calculation

Payables turnover = Cost of revenue (ttm) ÷ Payables
= $192,148K ÷ $145,361K
= 1.32

The payables turnover ratio for Northwest Natural Holding Co has shown fluctuations over the past eight quarters. The ratio measures the efficiency with which the company pays its suppliers or creditors during a specific period. A higher payables turnover ratio indicates that the company is paying off its suppliers more quickly.

In Q4 2023, the payables turnover ratio was 3.44, which was lower than the ratios in Q3 and Q2 of the same year, indicating a slower pace of paying off creditors. However, it was still higher compared to Q1 of the same year, suggesting an improvement in the management of payables.

Comparing the latest ratio to the same quarter in the previous year, there has been a notable increase in the payables turnover, reflecting a more efficient payment process. Overall, Northwest Natural Holding Co's payables turnover has been on an upward trend, with some fluctuations, indicating improved liquidity management and potentially positive relationships with suppliers.