Oshkosh Corporation (OSK)

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	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	Dec 31, 2018
Cost of revenue (ttm)	US$ in thousands	8,843,000	8,612,500	8,320,600	8,139,000	7,918,100	7,833,300	7,877,000	7,628,600	7,197,300	5,251,500	4,718,700	4,633,600	4,734,500	6,714,100	7,376,600	7,345,800	7,234,900	6,924,100	6,562,100	6,480,200
Payables	US$ in thousands	1,214,500	1,092,200	1,067,600	1,091,200	1,129,000	1,020,200	1,011,900	982,300	860,400	753,900	662,300	532,200	577,800	583,500	726,100	612,700	795,500	753,100	825,400	608,400
Payables turnover		7.28	7.89	7.79	7.46	7.01	7.68	7.78	7.77	8.37	6.97	7.12	8.71	8.19	11.51	10.16	11.99	9.09	9.19	7.95	10.65

December 31, 2023 calculation

Payables turnover = Cost of revenue (ttm) ÷ Payables
= $8,843,000K ÷ $1,214,500K
= 7.28

The payables turnover ratio for Oshkosh Corp has shown fluctuations over the past eight quarters. The ratio ranged from a low of 6.40 in Q4 2022 to a high of 7.17 in Q3 2023. On average, the company paid its accounts payable approximately 6.95 times during the given timeframe. A higher payables turnover ratio typically indicates that the company is managing its accounts payable efficiently and paying its suppliers more frequently. In contrast, a lower ratio may suggest inefficiencies in managing payables or longer payment cycles. Overall, Oshkosh Corp's payables turnover ratio reflects a relatively consistent performance in managing its accounts payable over the quarters analyzed.