Polaris Industries Inc (PII)
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 | 7,958,600 | 7,755,800 | 7,779,300 | 7,812,500 | 7,666,700 | 7,743,700 | 7,476,500 | 7,318,300 | 7,233,100 | 7,124,600 | 7,052,200 | 6,999,300 | 6,638,000 | 6,379,400 | 6,310,690 | 6,133,900 | 6,158,590 | 6,025,610 | 5,909,640 | 4,527,563 |
| Payables | US$ in thousands | 713,100 | 882,400 | 897,000 | 870,100 | 847,600 | 850,800 | 978,800 | 978,500 | 776,000 | 928,200 | 899,300 | 869,100 | 782,200 | 790,700 | 545,600 | 556,100 | 450,200 | 584,506 | 418,850 | 436,938 |
| Payables turnover | 11.16 | 8.79 | 8.67 | 8.98 | 9.05 | 9.10 | 7.64 | 7.48 | 9.32 | 7.68 | 7.84 | 8.05 | 8.49 | 8.07 | 11.57 | 11.03 | 13.68 | 10.31 | 14.11 | 10.36 |
December 31, 2023 calculation
Payables turnover = Cost of revenue (ttm) ÷ Payables
= $7,958,600K ÷ $713,100K
= 11.16
The payables turnover for Polaris Inc has shown relatively consistent performance over the past eight quarters, ranging from 6.48 to 9.78. The trend indicates that the company is effectively managing its accounts payable by converting them into sales or cash at a steady pace. A higher payables turnover ratio suggests that the company is efficiently utilizing its suppliers' credit terms and paying off its liabilities promptly. Polaris Inc's payables turnover has generally been above 7.5, indicating robust payment efficiency and possibly good relationships with suppliers. However, it is important to consider industry benchmarks and trends to fully assess the company's payables management practices.