Philip Morris International Inc (PM)
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 | 14,893,000 | 14,241,000 | 14,021,000 | 12,805,000 | 12,437,000 | 12,535,000 | 12,208,000 | 11,877,000 | 11,607,000 | 11,223,000 | 11,039,000 | 10,931,000 | 11,002,000 | 11,562,000 | 11,767,000 | 12,200,000 | 12,280,000 | 12,398,000 | 12,381,000 | 25,796,000 |
| Payables | US$ in thousands | 4,143,000 | 3,533,000 | 3,786,000 | 3,945,000 | 4,076,000 | 3,342,000 | 3,279,000 | 3,203,000 | 3,331,000 | 2,810,000 | 2,630,000 | 2,537,000 | 2,780,000 | 2,155,000 | 1,991,000 | 2,073,000 | 2,299,000 | 1,704,000 | 1,708,000 | 1,812,000 |
| Payables turnover | 3.59 | 4.03 | 3.70 | 3.25 | 3.05 | 3.75 | 3.72 | 3.71 | 3.48 | 3.99 | 4.20 | 4.31 | 3.96 | 5.37 | 5.91 | 5.89 | 5.34 | 7.28 | 7.25 | 14.24 |
December 31, 2023 calculation
Payables turnover = Cost of revenue (ttm) ÷ Payables
= $14,893,000K ÷ $4,143,000K
= 3.59
Philip Morris International Inc's payables turnover ratio has been fluctuating over the past 8 quarters. In Q4 2023, the payables turnover ratio was 3.11, representing a decrease from the previous quarter's ratio of 3.58 in Q3 2023. Despite the decrease, the ratio of 3.11 indicates that the company is able to efficiently manage its accounts payable by paying its suppliers approximately 3.11 times a year.
Comparing the Q4 2023 ratio to the same quarter in the previous year, there has been an improvement from a payables turnover ratio of 2.80 in Q4 2022. This suggests that Philip Morris International Inc has enhanced its efficiency in paying its suppliers over the year.
Overall, the trend in the payables turnover ratio for Philip Morris International Inc shows some variability but remains relatively stable within a range of 3.00 to 3.58 over the past eight quarters. This indicates that the company has been effectively managing its accounts payable and maintaining a consistent level of efficiency in settling its obligations to suppliers.
Peer comparison
Dec 31, 2023
See also:
Philip Morris International Inc Payables Turnover (Quarterly Data)