Skyline Corporation (SKY)
Payables turnover
| Mar 31, 2024 | Mar 31, 2023 | Mar 31, 2022 | Mar 31, 2021 | Mar 31, 2020 | ||
|---|---|---|---|---|---|---|
| Cost of revenue | US$ in thousands | 1,860,420 | 2,098,880 | 1,881,920 | 1,317,720 | 1,291,260 |
| Payables | US$ in thousands | 50,820 | 44,702 | 92,159 | 57,214 | 38,703 |
| Payables turnover | 36.61 | 46.95 | 20.42 | 23.03 | 33.36 |
March 31, 2024 calculation
Payables turnover = Cost of revenue ÷ Payables
= $1,860,420K ÷ $50,820K
= 36.61
The payables turnover ratio for Skyline Corporation has shown fluctuations over the past five years. In March 2020, the payables turnover ratio was 33.36, indicating that the company was able to pay off its accounts payable obligations approximately 33.36 times during that period.
However, by March 2021, this ratio had decreased to 23.03, signaling a slower rate of paying off its obligations compared to the previous year. The trend continued in March 2022, with the payables turnover ratio dropping further to 20.42.
In March 2023, there was a significant improvement in the payables turnover ratio, which surged to 46.95, suggesting that the company was more efficient in managing and settling its accounts payable within that period.
By March 2024, the ratio slightly decreased to 36.61, but it still remained relatively high compared to the previous years.
Overall, the fluctuations in the payables turnover ratio indicate varying levels of efficiency in managing the company's accounts payable over the years, with notable improvements in 2023. It is important for Skyline Corporation to analyze the reasons behind these changes and strive for consistent and efficient management of its payables in the future.
Peer comparison
Mar 31, 2024