SpartanNash Co (SPTN)
Payables turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Cost of revenue | US$ in thousands | 8,243,660 | 8,145,620 | 7,527,160 | 7,923,520 | 7,292,240 |
| Payables | US$ in thousands | 473,419 | 487,215 | 447,451 | 464,784 | 405,370 |
| Payables turnover | 17.41 | 16.72 | 16.82 | 17.05 | 17.99 |
December 31, 2023 calculation
Payables turnover = Cost of revenue ÷ Payables
= $8,243,660K ÷ $473,419K
= 17.41
SpartanNash Co's payables turnover ratio has shown consistency over the past five years, hovering between approximately 16.72 and 17.99. This indicates that the company is efficiently managing its accounts payable by paying off its suppliers in a timely manner. A higher payables turnover ratio typically suggests that the company is paying its suppliers more quickly, which could signal strong financial health and effective working capital management. However, it is also important to consider industry norms and supplier relationships when evaluating this ratio. Overall, SpartanNash Co's stable payables turnover ratio reflects a consistent approach to managing its trade credit obligations.
Peer comparison
Dec 31, 2023