Quanex Building Products (NX)
Payables turnover
| Jan 31, 2024 | Oct 31, 2023 | Jul 31, 2023 | Apr 30, 2023 | Jan 31, 2023 | Oct 31, 2022 | Jul 31, 2022 | Apr 30, 2022 | Jan 31, 2022 | Oct 31, 2021 | Jul 31, 2021 | Apr 30, 2021 | Jan 31, 2021 | Oct 31, 2020 | Jul 31, 2020 | Apr 30, 2020 | Jan 31, 2020 | Oct 31, 2019 | Jul 31, 2019 | Apr 30, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cost of revenue (ttm) | US$ in thousands | 975,406 | 997,832 | 877,659 | 908,040 | 951,319 | 953,004 | 939,749 | 908,169 | 866,978 | 831,541 | 793,887 | 736,448 | 677,720 | 658,750 | 652,714 | 671,644 | 693,290 | 694,420 | 699,068 | 703,522 |
| Payables | US$ in thousands | 55,106 | 74,371 | 71,464 | 64,477 | 63,093 | 77,907 | 84,527 | 88,956 | 75,457 | 86,765 | 79,167 | 83,081 | 62,553 | 77,335 | 58,676 | 42,227 | 49,092 | 63,604 | 52,602 | 48,743 |
| Payables turnover | 17.70 | 13.42 | 12.28 | 14.08 | 15.08 | 12.23 | 11.12 | 10.21 | 11.49 | 9.58 | 10.03 | 8.86 | 10.83 | 8.52 | 11.12 | 15.91 | 14.12 | 10.92 | 13.29 | 14.43 |
January 31, 2024 calculation
Payables turnover = Cost of revenue (ttm) ÷ Payables
= $975,406K ÷ $55,106K
= 17.70
The payables turnover ratio for Quanex Building Products has shown fluctuations over the past few quarters. The ratio indicates how effectively the company is managing its accounts payable by paying off its suppliers and vendors. A higher payables turnover ratio generally suggests that the company is efficiently managing its accounts payable and paying its suppliers in a timely manner.
In the most recent period, as of January 31, 2024, Quanex Building Products had a payables turnover ratio of 17.70, which was significantly higher compared to the previous quarter and demonstrated a strong ability to pay off its accounts payable. However, the company's payables turnover ratio has shown some variability over the previous quarters, ranging from a low of 8.52 in October 2020 to a high of 17.70 in January 2024.
Overall, the trend in Quanex Building Products' payables turnover ratio indicates that the company has been managing its accounts payable efficiently, with some quarter-to-quarter fluctuations. It is important for investors and stakeholders to continue monitoring this ratio to assess the company's ability to meet its financial obligations and maintain strong supplier relationships.
Peer comparison
Jan 31, 2024