Rogers Corporation (ROG)

Payables turnover

Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Cost of revenue US$ in thousands 872,000 982,025 824,788 777,858 804,997
Payables US$ in thousands 50,300 57,300 64,660 35,987 33,019
Payables turnover 17.34 17.14 12.76 21.61 24.38

December 31, 2023 calculation

Payables turnover = Cost of revenue ÷ Payables
= $872,000K ÷ $50,300K
= 17.34

The payables turnover ratio for Rogers Corp. has shown fluctuating trends over the past five years. In 2023, the payables turnover ratio was 11.95, indicating that the company paid its suppliers approximately 11.95 times during the year. This suggests that the company managed its accounts payables efficiently in 2023.

Comparing this to the previous years, we see that the payables turnover ratio was 11.34 in 2022, 9.03 in 2021, 14.19 in 2020, and 17.69 in 2019. The decreasing trend from 2019 to 2021 may imply that the company was taking longer to pay its suppliers during those years. However, the significant increase in 2020 followed by a slight decrease in 2023 suggests an improvement in managing payables efficiently.

Overall, the payables turnover ratio for Rogers Corp. has been relatively stable over the past five years, indicating that the company has been effectively managing its accounts payable and maintaining good relationships with its suppliers.