Sun Country Airlines Holdings Inc (SNCY)

Payables turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Cost of revenue	US$ in thousands	664,034	624,371	409,854
Payables	US$ in thousands	59,011	62,370	39,805
Payables turnover		11.25	10.01	10.30

December 31, 2023 calculation

Payables turnover = Cost of revenue ÷ Payables
= $664,034K ÷ $59,011K
= 11.25

The payables turnover ratio for Sun Country Airlines Holdings Inc for the years ending December 31, 2023, 2022, and 2021 was reported as 0.00. A payables turnover ratio of 0.00 indicates that the company did not have any payables turnover during the respective periods, which is unusual and possibly suggests incomplete or missing data in the financial statements. A payables turnover ratio of zero could imply a lack of trade credit transactions or an anomaly in the reporting of accounts payable. This ratio is typically used to assess how efficiently a company is managing its accounts payable by measuring how many times a company pays its average accounts payable balance during a specific period. Therefore, the reported payables turnover ratios of 0.00 for all three years raise concerns about the accuracy and completeness of the financial data provided. Further investigation into the company's financial statements and accounting practices may be necessary to clarify the reasons behind the consistently reported zero payables turnover ratios.