Range Resources Corp (RRC)
Payables turnover
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 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Cost of revenue (ttm) | US$ in thousands | 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 | 2,885,699 | 2,855,209 | 2,876,669 | 3,180,575 |
Payables | US$ in thousands | 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 | 155,341 | 163,327 | 193,190 | 215,073 |
Payables turnover | 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 | 18.58 | 17.48 | 14.89 | 14.79 |
December 31, 2023 calculation
Payables turnover = Cost of revenue (ttm) ÷ Payables
= $543,506K ÷ $110,134K
= 4.93
Range Resources Corp's payables turnover ratio has consistently been reported as 0.00 for the past eight quarters. This indicates that the company is not effectively managing its accounts payable, as there is little to no turnover of payables during these periods. A low or zero payables turnover ratio may suggest that the company is not paying its suppliers in a timely manner or is not utilizing its trade credit effectively. It could also indicate potential liquidity issues or inefficiencies in the company's working capital management. Further analysis and investigation of the company's payables management practices and financial health are recommended to better understand the reasons behind the consistently low payables turnover ratio.
Peer comparison
Dec 31, 2023