Shenandoah Telecommunications Co (SHEN)

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	278,679	211,644	208,661	214,507	211,422	166,000	162,002	148,032	141,976	180,333	176,217	167,313	158,950	44,789	65,685	99,414	133,424	273,151	276,827	327,470
Payables	US$ in thousands	53,546	43,360	41,238	48,822	49,173	35,836	30,056	21,422	28,542	17,433	23,538	19,866	19,599	25,602	26,702	30,384	40,295	26,470	27,657	25,410
Payables turnover		5.20	4.88	5.06	4.39	4.30	4.63	5.39	6.91	4.97	10.34	7.49	8.42	8.11	1.75	2.46	3.27	3.31	10.32	10.01	12.89

December 31, 2023 calculation

Payables turnover = Cost of revenue (ttm) ÷ Payables
= $278,679K ÷ $53,546K
= 5.20

The payables turnover ratio for Shenandoah Telecommunications Co. has been fluctuating over the past eight quarters. In Q4 2023, the company had a payables turnover ratio of 1.98, which indicates that the company took approximately 1.98 quarters to pay off its accounts payable during that period. This ratio increased to 2.48 in Q3 2023, suggesting an improvement in the company's ability to manage its payables.

The trend continued in Q2 2023 with a further increase to 2.60, indicating that the company was paying off its accounts payable more efficiently. However, in Q1 2023, the payables turnover ratio dropped to 2.21, showing a slight decrease in the company's ability to manage its payables compared to the previous quarter.

Looking back at Q4 2022, the payables turnover ratio was 2.19, which was similar to Q1 2023. In the earlier quarters of 2022, the company had higher payables turnover ratios, with Q3 2022 at 3.06, Q2 2022 at 3.59, and Q1 2022 at 4.92. These higher ratios indicate that Shenandoah Telecommunications Co. was more efficient in paying off its accounts payable during that period.

Overall, the payables turnover ratio for Shenandoah Telecommunications Co. has been varying, with some quarters showing better efficiency in managing payables compared to others. It is important to monitor this ratio regularly to assess the company's liquidity and payment practices.