REX American Resources Corporation (REX)

Payables turnover

		Jan 31, 2024	Oct 31, 2023	Jul 31, 2023	Apr 30, 2023	Jan 31, 2023	Oct 31, 2022	Jul 31, 2022	Apr 30, 2022	Jan 31, 2022	Oct 31, 2021	Jul 31, 2021	Apr 30, 2021	Jan 31, 2021	Oct 31, 2020	Jul 31, 2020	Apr 30, 2020	Jan 31, 2020	Oct 31, 2019	Jul 31, 2019	Apr 30, 2019
Cost of revenue (ttm)	US$ in thousands	735,166	763,230	792,445	825,045	804,813	792,784	759,694	714,993	677,242	623,178	550,552	409,686	357,701	352,853	335,994	397,200	405,549	402,348	429,922	447,416
Payables	US$ in thousands	42,073	28,766	22,100	17,874	34,091	40,271	21,194	19,160	32,266	27,133	22,041	15,808	16,907	15,588	8,584	7,386	18,900	13,122	8,877	6,825
Payables turnover		17.47	26.53	35.86	46.16	23.61	19.69	35.84	37.32	20.99	22.97	24.98	25.92	21.16	22.64	39.14	53.78	21.46	30.66	48.43	65.56

January 31, 2024 calculation

Payables turnover = Cost of revenue (ttm) ÷ Payables
= $735,166K ÷ $42,073K
= 17.47

The payables turnover ratio for REX American Resources Corporation has been fluctuating over the past several periods, indicating varying efficiencies in managing its trade payables. The trend shows a general pattern of improvement, with noticeable spikes in the ratio in some periods, indicating the company's ability to accelerate its payments to suppliers.

The ratio has shown a significant increase from 17.47 in January 2020 to a peak of 53.78 in April 2020, suggesting a rapid turnaround in paying off trade payables during that period. This may indicate improved working capital management or negotiations with suppliers for more favorable payment terms.

Subsequently, the ratio experienced fluctuations but generally remained at relatively high levels, demonstrating a consistent ability to manage trade payables efficiently. A peak of 65.56 in July 2019 indicates a particularly strong performance in paying off obligations compared to the level of payables outstanding.

Overall, the trend in the payables turnover ratio for REX American Resources Corporation suggests a focus on timely payments to suppliers and an efficient management of its trade payables, potentially contributing to better relationships with vendors and improved cash flow management.