Saia Inc (SAIA)

Payables turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Cost of revenue	US$ in thousands	1,485,500	1,339,840	1,233,810	1,117,000	1,089,580
Payables	US$ in thousands	141,877	99,792	114,010	89,381	83,621
Payables turnover		10.47	13.43	10.82	12.50	13.03

December 31, 2023 calculation

Payables turnover = Cost of revenue ÷ Payables
= $1,485,500K ÷ $141,877K
= 10.47

The payables turnover ratio measures how efficiently a company is managing its accounts payable by calculating how many times a company pays off its suppliers in a given period. A higher payables turnover ratio indicates that the company is paying its suppliers more frequently, which may suggest strong supplier relationships or efficient working capital management.

In the case of Saia Inc., the payables turnover ratio has been consistently reported as 0.00 for the past five years, indicating that the company did not have any payables turnover during those periods. This could be an anomaly in the data or may indicate that Saia Inc. has not been effectively managing its accounts payable or has been slow in paying its suppliers.

It is important to note that a payables turnover ratio of 0.00 is not typical in most businesses and could raise concerns about the company's liquidity, supplier relationships, or financial management practices. Further analysis and investigation into Saia Inc.'s payables management practices are recommended to understand the underlying reasons for the consistently low payables turnover ratio.