Scotts Miracle-Gro Company (SMG)
Payables turnover
| Sep 30, 2024 | Sep 30, 2023 | Sep 30, 2022 | Sep 30, 2021 | Sep 30, 2020 | ||
|---|---|---|---|---|---|---|
| Cost of revenue | US$ in thousands | 3,321,100 | 3,632,600 | 4,302,400 | 4,272,900 | 3,621,900 |
| Payables | US$ in thousands | 254,700 | 271,200 | 422,600 | 609,400 | 391,000 |
| Payables turnover | 13.04 | 13.39 | 10.18 | 7.01 | 9.26 |
September 30, 2024 calculation
Payables turnover = Cost of revenue ÷ Payables
= $3,321,100K ÷ $254,700K
= 13.04
The payables turnover of Scotts Miracle-Gro Company has been relatively stable in recent years. The ratio indicates how many times during the year the company pays off its accounts payable.
In 2024, the payables turnover decreased slightly to 13.04, compared to 13.39 in 2023. This decline suggests that the company took slightly longer to pay off its suppliers in 2024. However, it is still a relatively high turnover rate, indicating efficient management of accounts payable.
Compared to 2022 and 2021, where the payables turnover was 10.18 and 7.01, respectively, the company has shown improvement in managing its payables efficiently. In 2020, the payables turnover was at 9.26, showing a slight increase in 2024.
Overall, the trend in payables turnover for Scotts Miracle-Gro Company reflects a strong ability to manage its accounts payable effectively, ensuring timely payments to suppliers.
Peer comparison
Sep 30, 2024