Ryder System Inc (R)
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 | 1,507,000 | 1,484,693 | 1,487,304 | 1,504,991 | 1,446,206 | 1,331,536 | 1,237,514 | 1,146,095 | 1,084,622 | 1,065,601 | 1,021,195 | 960,491 | 942,868 | 898,175 | 903,029 | 920,881 | 928,087 | 929,148 | 928,617 | 914,124 |
| Payables | US$ in thousands | 833,000 | 911,000 | 934,000 | 980,000 | 767,000 | 876,083 | 966,555 | 867,322 | 748,000 | 733,400 | 672,553 | 547,532 | 547,389 | 461,653 | 425,686 | 522,612 | 594,712 | 742,868 | 768,054 | 839,792 |
| Payables turnover | 1.81 | 1.63 | 1.59 | 1.54 | 1.89 | 1.52 | 1.28 | 1.32 | 1.45 | 1.45 | 1.52 | 1.75 | 1.72 | 1.95 | 2.12 | 1.76 | 1.56 | 1.25 | 1.21 | 1.09 |
December 31, 2023 calculation
Payables turnover = Cost of revenue (ttm) ÷ Payables
= $1,507,000K ÷ $833,000K
= 1.81
The payables turnover ratio for Ryder System, Inc. has shown fluctuations over the past eight quarters. It indicates how many times the company pays its suppliers within a given period. A higher turnover ratio implies that the company is efficiently managing its payables by paying suppliers more frequently.
In Q4 2023, the payables turnover ratio was 11.39, the highest among the quarters analyzed. This suggests that Ryder System, Inc. paid its suppliers approximately 11.39 times during that quarter, reflecting effective management of its accounts payable.
The trend shows an overall increasing pattern from Q1 2022 to Q4 2023, with occasional fluctuations. The ratio has generally been above 9.0, indicating a consistent and efficient payment cycle. However, the company should monitor any significant deviations from this trend, as it could imply changes in payment terms or supplier relationships that may impact its financial liquidity and relationships with vendors.
Peer comparison
Dec 31, 2023