Oceaneering International Inc (OII)
Payables turnover
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Cost of revenue | US$ in thousands | 2,175,670 | 2,025,740 | 1,758,710 | 1,605,210 | 1,663,950 |
| Payables | US$ in thousands | 181,505 | 156,064 | 148,018 | 122,327 | 94,207 |
| Payables turnover | 11.99 | 12.98 | 11.88 | 13.12 | 17.66 |
December 31, 2024 calculation
Payables turnover = Cost of revenue ÷ Payables
= $2,175,670K ÷ $181,505K
= 11.99
Oceaneering International Inc's payables turnover has exhibited a downward trend over the past five years. Starting at 17.66 in December 2020, the ratio decreased to 13.12 by December 2021, indicating a reduction in the speed at which the company is paying its suppliers. Subsequently, the payables turnover continued to decline to 11.88 by December 2022 before seeing a slight increase to 12.98 by December 2023. However, by December 2024, the ratio dropped again to 11.99. This prolonged decrease in payables turnover may suggest that Oceaneering International Inc is taking longer to settle its accounts payables, which could potentially signal liquidity challenges or changing supplier terms. Further analysis of the company's working capital management and vendor relationships may be warranted to understand the underlying reasons for this trend and its implications for the company's financial performance.
Peer comparison
Dec 31, 2024