Range Resources Corp (RRC)

Payables turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Cost of revenue	US$ in thousands	546,516	762,527	571,426	1,000,950	2,897,140
Payables	US$ in thousands	110,134	206,738	178,413	132,421	155,341
Payables turnover		4.96	3.69	3.20	7.56	18.65

December 31, 2023 calculation

Payables turnover = Cost of revenue ÷ Payables
= $546,516K ÷ $110,134K
= 4.96

Range Resources Corp has consistently reported a payables turnover ratio of 0.00 over the past five years, indicating that the company is not effectively managing its accounts payable. A payables turnover ratio of 0.00 suggests that the company is not utilizing its trade credit efficiently or may have extended payment terms with its suppliers.

This low ratio could indicate that Range Resources Corp is taking an extended time to pay its suppliers, which may affect its relationships with vendors and could potentially lead to cash flow issues if not managed effectively. It is important for the company to address this issue and improve its payables turnover ratio to ensure better management of its working capital and financial health.