Performance Food Group Co (PFGC)
Payables turnover
| Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cost of revenue (ttm) | US$ in thousands | 55,882,300 | 54,387,600 | 53,192,500 | 52,079,700 | 51,704,100 | 51,459,000 | 51,429,600 | 51,131,300 | 50,999,800 | 50,903,200 | 50,377,200 | 49,537,900 | 45,637,700 | 40,775,900 | 35,412,300 | 29,886,400 | 26,873,700 | 23,770,100 | 23,593,500 | 22,916,800 |
| Payables | US$ in thousands | 3,165,300 | 3,054,800 | 2,916,100 | 2,774,200 | 2,594,400 | 2,508,400 | 2,423,500 | 2,519,700 | 2,453,500 | 2,477,400 | 2,417,500 | 2,628,600 | 2,559,500 | 2,556,300 | 2,446,400 | 2,374,100 | 1,776,500 | 1,513,100 | 1,025,200 | 1,456,900 |
| Payables turnover | 17.65 | 17.80 | 18.24 | 18.77 | 19.93 | 20.51 | 21.22 | 20.29 | 20.79 | 20.55 | 20.84 | 18.85 | 17.83 | 15.95 | 14.48 | 12.59 | 15.13 | 15.71 | 23.01 | 15.73 |
June 30, 2025 calculation
Payables turnover = Cost of revenue (ttm) ÷ Payables
= $55,882,300K ÷ $3,165,300K
= 17.65
The payables turnover ratio of Performance Food Group Co exhibits notable fluctuations over the period from September 2020 to June 2025. Initially, the ratio was 15.73 at the end of September 2020, which increased sharply to 23.01 by the end of December 2020, indicating an improvement in the company's ability to pay its suppliers more quickly or a reduction in accounts payable relative to purchases.
From early 2021 to early 2022, the ratio stabilized around the mid-teens, with values such as 15.71 (March 2021) and 15.13 (June 2021), before declining to 12.59 at the end of September 2021. This decline suggests a lengthening in the period the company takes to settle its payables, possibly due to strategic negotiations with suppliers or a change in payment policies.
Subsequently, the ratio demonstrated a consistent upward trend from late 2021 into 2022 and 2023, reaching 20.84 in December 2022, then hovering around 20.55 to 20.79 through March and June of 2023. This indicates a shortening of the payables period and a faster turnover of accounts payable, which might reflect improved liquidity management or more efficient supply chain negotiations.
After mid-2023, the ratios show a slight decline, with the September 2023 figure at 20.29, continuing down to 17.65 by June 2025. The gradual decrease in payables turnover ratio suggests the company is taking longer to settle its payables, possibly due to extended credit terms negotiated with suppliers, shifts in payment policies, or cash flow considerations.
Overall, the company's payables turnover ratio demonstrates periods of both acceleration and deceleration, reflecting dynamic changes in its payment strategies and possibly in its operational or financial conditions over the analyzed period. The trend towards a declining ratio in the most recent quarters indicates an elongation in the payables period, which could have implications for supplier relationships and liquidity management.
Peer comparison
Jun 30, 2025