Schneider National Inc (SNDR)

Payables turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Cost of revenue	US$ in thousands	2,471,100	2,517,100	1,997,700	1,811,900	3,516,700
Payables	US$ in thousands	241,300	276,700	331,700	245,700	207,700
Payables turnover		10.24	9.10	6.02	7.37	16.93

December 31, 2023 calculation

Payables turnover = Cost of revenue ÷ Payables
= $2,471,100K ÷ $241,300K
= 10.24

Schneider National Inc's payables turnover has shown fluctuations over the past five years, with values ranging from 6.02 to 16.93. The payables turnover ratio measures how efficiently the company is managing its accounts payable by showing how many times a company pays off its suppliers during a period. A higher payables turnover ratio indicates that the company is paying its suppliers more frequently, which could be a positive sign of strong liquidity and good relationships with suppliers.

From 2019 to 2020, there was a significant increase in the payables turnover ratio from 16.93 to 7.37, indicating that the company took longer to pay off its suppliers in 2020 compared to 2019. However, this ratio increased again to 9.10 in 2022 before reaching 10.24 in 2023, showing an improvement in payables turnover efficiency in the most recent year.

Overall, the trend in Schneider National Inc's payables turnover suggests that the company has been managing its accounts payable more efficiently in recent years, with the ratio trending upwards, which could potentially be a positive indicator of the company's financial health and management of its working capital.