Oceaneering International Inc (OII)

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	2,025,735	1,922,856	1,866,290	1,817,450	1,758,707	1,700,132	1,643,181	1,624,993	1,605,210	1,596,925	1,600,051	1,554,928	1,663,948	1,865,884	1,904,378	1,973,497	1,949,880	1,830,743	1,853,822	1,848,970
Payables	US$ in thousands	156,064	154,797	151,062	142,741	148,018	135,882	129,594	108,015	122,327	97,836	106,778	92,515	94,207	96,481	89,411	124,898	145,933	101,634	105,171	111,741
Payables turnover		12.98	12.42	12.35	12.73	11.88	12.51	12.68	15.04	13.12	16.32	14.98	16.81	17.66	19.34	21.30	15.80	13.36	18.01	17.63	16.55

December 31, 2023 calculation

Payables turnover = Cost of revenue (ttm) ÷ Payables
= $2,025,735K ÷ $156,064K
= 12.98

Oceaneering International, Inc.'s payables turnover has shown consistency over the past eight quarters, ranging from 11.88 to 15.04. The highest payables turnover was observed in Q1 2022 at 15.04, indicating the company was able to efficiently manage its accounts payable during that period. In the most recent quarter, Q4 2023, the payables turnover stood at 12.98, showing a slight increase compared to the previous quarter.

Overall, Oceaneering International, Inc. has been able to effectively manage its payables turnover, maintaining a relatively stable performance over the quarters analyzed. A higher payables turnover ratio suggests that the company is paying off its suppliers more frequently, which can be beneficial in terms of managing working capital and maintaining strong supplier relationships.