Oceaneering International Inc (OII)
Payables turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Cost of revenue | US$ in thousands | 2,025,740 | 1,758,710 | 1,605,210 | 1,663,950 | 1,949,880 |
| Payables | US$ in thousands | 156,064 | 148,018 | 122,327 | 94,207 | 145,933 |
| Payables turnover | 12.98 | 11.88 | 13.12 | 17.66 | 13.36 |
December 31, 2023 calculation
Payables turnover = Cost of revenue ÷ Payables
= $2,025,740K ÷ $156,064K
= 12.98
The payables turnover ratio for Oceaneering International, Inc. has been fluctuating over the past five years. The ratio was 13.36 in 2019, decreased to 17.66 in 2020, then decreased further to 13.12 in 2021, increased to 11.88 in 2022, and finally increased to 12.98 in 2023.
A higher payables turnover ratio generally indicates that the company is managing its accounts payable efficiently by paying off its suppliers more quickly. Meanwhile, a lower ratio may suggest that the company is taking longer to pay its suppliers, potentially indicating potential liquidity or operational issues.
It is important for stakeholders to analyze the trend of the payables turnover ratio over time to understand the company's payment practices and liquidity management. Overall, Oceaneering International, Inc. has shown varying levels of efficiency in managing its payables in recent years.
Peer comparison
Dec 31, 2023