PPG Industries Inc (PPG)

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 11,793,000 15,488,000 15,462,000 15,396,000 15,599,000 15,764,000 15,731,000 15,435,000 14,613,000 12,863,000 11,969,000 11,009,000 10,674,000 10,645,000 10,869,000 11,680,000 11,824,000 11,901,000 9,667,000 7,267,000
Payables US$ in thousands 2,612,000 2,538,000 2,734,000 2,259,000 2,098,000
Payables turnover 4.51 6.15 5.34 4.73 5.64

December 31, 2023 calculation

Payables turnover = Cost of revenue (ttm) ÷ Payables
= $11,793,000K ÷ $2,612,000K
= 4.51

The payables turnover ratio for PPG Industries, Inc. in Q4 2023 was 4.11, showing a decrease from 4.37 in Q4 2022. This indicates that the company was able to pay off its suppliers approximately 4.11 times during the fourth quarter of 2023. The decline from the previous year may suggest that the company took longer to pay its suppliers in Q4 2023 compared to Q4 2022. It is important to note that a higher payables turnover ratio generally implies that the company is efficiently managing its accounts payable by paying its suppliers more frequently. Further analysis of the company's payment terms and cash flow situation would provide more insights into its payables management strategy.


Peer comparison

Dec 31, 2023

Company name
Symbol
Payables turnover
PPG Industries Inc
PPG
4.51
Axalta Coating Systems Ltd
AXTA
6.11
RPM International Inc
RPM
10.20