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.