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