PG&E Corp (PCG)

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	1,095,000	897,000	688,000	567,000	471,000	-736,000	-387,000	-22,000	343,000	1,505,000	4,600,000	7,236,000	9,624,000	9,436,000	5,964,000	2,760,000	324,000	808,000	1,146,000	512,000
Payables	US$ in thousands	3,160,000	3,494,000	3,141,000	3,075,000	3,666,000	3,597,000	3,751,000	3,203,000	3,534,000	3,352,000	2,903,000	2,849,000	2,982,000	3,475,000	4,030,000	2,550,000	2,520,000	1,844,000	1,679,000	867,000
Payables turnover		0.35	0.26	0.22	0.18	0.13	-0.20	-0.10	-0.01	0.10	0.45	1.58	2.54	3.23	2.72	1.48	1.08	0.13	0.44	0.68	0.59

December 31, 2023 calculation

Payables turnover = Cost of revenue (ttm) ÷ Payables
= $1,095,000K ÷ $3,160,000K
= 0.35

PG&E Corp.'s payables turnover ratio measures how efficiently the company is managing its payables in relation to its purchases during a specific period. A higher payables turnover ratio generally indicates that the company is paying its suppliers more frequently or quickly, which could potentially imply strong liquidity or bargaining power with suppliers.

Analyzing the trend in PG&E Corp.'s payables turnover ratio over the past eight quarters, we observe fluctuations. In Q4 2023, the payables turnover ratio was 1.33, showing a decrease from the previous quarter. However, it is still higher than the ratio in Q4 2022.

In Q3 2023, the ratio increased to 1.77, marking an improvement from the previous quarter. The trend continued in Q2 2023, where the ratio further increased to 2.13, signaling that PG&E Corp. was paying its suppliers more efficiently. This positive trend was sustained in Q1 2023, with the ratio reaching 2.25, the highest value in the analyzed period.

Comparing the current ratios to those in the same quarters in the previous year, we see some variation. For example, in Q4 2023 and Q2 2023, the ratios were higher than the ratios in Q4 2022 and Q2 2022, respectively. However, in Q3 2023 and Q1 2023, the ratios were lower than the ratios in Q3 2022 and Q1 2022, respectively.

Overall, the fluctuations in PG&E Corp.'s payables turnover ratio suggest varying trends in the company's payment practices and relationship with its suppliers. Further analysis, in conjunction with other financial metrics, would be necessary to gain a comprehensive understanding of the company's liquidity management and financial performance.