Packaging Corp of America (PKG)

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	6,696,100	6,692,000	6,771,800	6,918,400	6,984,000	6,984,900	6,864,700	6,635,500	6,418,700	6,203,100	6,058,500	5,892,800	5,838,000	5,874,600	5,878,500	5,949,500	5,916,400	5,876,900	5,899,800	5,906,700
Payables	US$ in thousands	402,400	405,900	365,800	410,500	410,400	485,300	528,200	546,700	452,400	499,100	405,300	402,500	387,000	352,100	315,200	389,000	351,900	385,500	382,800	405,100
Payables turnover		16.64	16.49	18.51	16.85	17.02	14.39	13.00	12.14	14.19	12.43	14.95	14.64	15.09	16.68	18.65	15.29	16.81	15.24	15.41	14.58

December 31, 2023 calculation

Payables turnover = Cost of revenue (ttm) ÷ Payables
= $6,696,100K ÷ $402,400K
= 16.64

Packaging Corp Of America's payables turnover has shown a consistent upward trend in recent quarters. The company's ability to efficiently manage its accounts payable is evident as the payables turnover ratio has steadily increased from 11.08 in Q1 2022 to 16.92 in Q2 2023. This indicates that the company is paying off its suppliers at a faster rate, which could potentially lead to better supplier relationships and favorable payment terms. Overall, the upward trend in payables turnover suggests effective working capital management and financial health for Packaging Corp Of America.

Peer comparison

Dec 31, 2023

Company name

Symbol

Payables turnover

Packaging Corp of America

PKG

16.64

Graphic Packaging Holding Company

Sonoco Products Company

SON

8.47