Ryder System Inc (R)
Payables turnover
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Cost of revenue | US$ in thousands | 1,557,000 | 1,507,000 | 1,485,000 | 1,084,620 | 942,868 |
| Payables | US$ in thousands | 828,000 | 833,000 | 767,000 | 748,000 | 547,389 |
| Payables turnover | 1.88 | 1.81 | 1.94 | 1.45 | 1.72 |
December 31, 2024 calculation
Payables turnover = Cost of revenue ÷ Payables
= $1,557,000K ÷ $828,000K
= 1.88
The payables turnover ratio for Ryder System Inc has shown some fluctuations over the past five years. Starting at 1.72 in December 31, 2020, the ratio decreased to 1.45 by December 31, 2021, indicating a potential decrease in how quickly the company is paying its suppliers.
However, there was a significant improvement in the payables turnover ratio to 1.94 by December 31, 2022, which suggests that the company was able to better manage its accounts payable during that period.
Subsequently, the ratio decreased slightly to 1.81 by December 31, 2023, before increasing again to 1.88 by December 31, 2024. Overall, the trend indicates some variability in how efficiently Ryder System Inc is managing its accounts payable, with some ups and downs in the turnover ratio over the years.
Peer comparison
Dec 31, 2024