Ovintiv Inc (OVV)
Payables turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Cost of revenue | US$ in thousands | 1,276,000 | 1,247,000 | 1,108,000 | 6,704,000 | 1,400,000 |
| Payables | US$ in thousands | 586,000 | 436,000 | 328,000 | 306,000 | 355,000 |
| Payables turnover | 2.18 | 2.86 | 3.38 | 21.91 | 3.94 |
December 31, 2023 calculation
Payables turnover = Cost of revenue ÷ Payables
= $1,276,000K ÷ $586,000K
= 2.18
The payables turnover ratio for Ovintiv Inc has been consistently reported as 0.00 for the past five years. This indicates that the company is not effectively utilizing its accounts payable to fund its operations or that there may be irregularities in the reporting of these figures. A low or zero payables turnover ratio may suggest that the company is not efficiently managing its payment obligations to suppliers or is possibly delaying payments. Further investigation into the company's accounts payable management practices and financial reporting transparency would be warranted to understand the reasons behind the consistently low payables turnover ratio.
Peer comparison
Dec 31, 2023