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