Range Resources Corp (RRC)

Payables turnover

		Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	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
Cost of revenue (ttm)	US$ in thousands	371,278	385,587	416,023	498,847	543,506	654,345	722,086	748,975	758,857	713,449	699,404	598,073	572,721	517,802	964,489	961,282	997,540	3,254,481	2,777,112	2,851,566
Payables	US$ in thousands	133,132	96,894	123,968	150,500	110,134	132,230	139,352	179,468	206,738	220,818	229,120	234,253	178,413	151,919	144,454	160,323	132,421	84,554	97,494	163,277
Payables turnover		2.79	3.98	3.36	3.31	4.93	4.95	5.18	4.17	3.67	3.23	3.05	2.55	3.21	3.41	6.68	6.00	7.53	38.49	28.48	17.46

December 31, 2024 calculation

Payables turnover = Cost of revenue (ttm) ÷ Payables
= $371,278K ÷ $133,132K
= 2.79

Range Resources Corp's payables turnover ratio has shown fluctuations over the period from March 31, 2020, to December 31, 2024. The payables turnover ratio indicates how efficiently the company is managing its payments to suppliers.

The ratio was relatively high in the beginning, standing at 17.46 on March 31, 2020, then increased steadily to reach its peak of 38.49 on September 30, 2020. This suggests that the company was paying its suppliers more frequently during this period.

However, the payables turnover ratio declined significantly in the following quarters, dropping to 2.55 on March 31, 2022, and 2.79 on December 31, 2024. This downward trend may indicate that Range Resources Corp was taking longer to pay its suppliers, which could potentially strain relationships with vendors.

The ratio showed some recovery in the subsequent periods, but it remained relatively low compared to the earlier peaks. This suggests that the company may have adjusted its payment practices to strike a balance between managing cash flow and maintaining good relationships with suppliers.

Overall, the fluctuations in Range Resources Corp's payables turnover ratio reflect changes in the company's payment policies and supplier relationships over the analyzed period. Further analysis of the company's financial performance and operational strategies would be necessary to fully understand the implications of these trends.