Public Service Enterprise Group Inc (PEG)
Payables turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Cost of revenue | US$ in thousands | 4,685,000 | 4,876,000 | 7,311,000 | 3,061,000 | 3,408,000 |
| Payables | US$ in thousands | 1,214,000 | 1,271,000 | 1,315,000 | 1,332,000 | 1,358,000 |
| Payables turnover | 3.86 | 3.84 | 5.56 | 2.30 | 2.51 |
December 31, 2023 calculation
Payables turnover = Cost of revenue ÷ Payables
= $4,685,000K ÷ $1,214,000K
= 3.86
The payables turnover ratio for Public Service Enterprise Group Inc. has fluctuated over the past five years. The ratio indicates the efficiency with which the company pays its suppliers. A higher ratio generally suggests that the company is paying its suppliers more quickly.
In 2023, the payables turnover ratio was 2.69, a decrease from 3.16 in 2022. This decrease may indicate that the company took longer to pay its suppliers in 2023 compared to the previous year. However, the ratio of 2.69 still indicates that the company is managing its payables efficiently.
Comparing to 2021 and 2020, the payables turnover ratio in 2023 was higher, showing an improvement in the efficiency of paying suppliers. In 2021, the ratio was 2.66, and in 2020, it was 2.29. This suggests that Public Service Enterprise Group Inc. has been improving its payables management over the past few years.
In comparison to 2019, where the ratio was 2.48, the 2023 ratio of 2.69 indicates enhanced efficiency in paying suppliers. Overall, while there was a slight decrease from the previous year, Public Service Enterprise Group Inc. appears to be effectively managing its payables turnover.
Peer comparison
Dec 31, 2023