Saia Inc (SAIA)

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	1,485,499	1,424,353	1,374,202	1,353,148	1,339,840	1,327,223	1,304,904	1,280,330	1,233,813	1,197,244	1,168,158	1,123,798	1,117,005	1,099,501	1,096,251	1,104,312	1,083,934	1,048,474	1,020,619	999,355
Payables	US$ in thousands	141,877	112,594	98,249	108,362	99,792	114,697	145,298	130,163	114,010	140,774	100,499	121,613	89,381	97,060	81,516	91,395	83,621	84,857	77,521	71,983
Payables turnover		10.47	12.65	13.99	12.49	13.43	11.57	8.98	9.84	10.82	8.50	11.62	9.24	12.50	11.33	13.45	12.08	12.96	12.36	13.17	13.88

December 31, 2023 calculation

Payables turnover = Cost of revenue (ttm) ÷ Payables
= $1,485,499K ÷ $141,877K
= 10.47

Based on the data provided, Saia Inc. has consistently reported a payables turnover ratio of 0.00 across all quarters from Q1 2022 to Q4 2023. A payables turnover ratio of 0.00 indicates that the company is not effectively managing its accounts payables during these periods. This could suggest various scenarios, such as potential issues with the company's payment processes, lack of vendor negotiation for favorable payment terms, or inefficiencies in managing the timing of cash flows related to payables.

A payables turnover ratio of 0.00 is quite unusual and warrants further investigation into Saia Inc.'s accounts payable practices. Companies typically aim for a higher payables turnover ratio as it indicates that they are efficiently managing their payables, optimizing cash flow, and potentially benefiting from favorable credit terms with suppliers. However, in the case of Saia Inc., the consistently low payables turnover ratio may indicate a need for improvements in their accounts payable management to enhance efficiency and optimize working capital management.