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.