Spire Inc (SR)

Payables turnover

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Cost of revenue (ttm)	US$ in thousands	291,000	286,100	251,100	247,200	243,500	238,300	233,100	225,800	905,000	1,360,700	1,326,600	1,422,100	1,399,500	1,453,800	1,610,600	1,695,200	1,471,900	1,319,000	1,328,800	1,319,800
Payables	US$ in thousands	293,800	253,100	196,300	232,300	506,800	617,400	581,200	367,500	427,500	409,900	294,300	352,100	260,800	243,300	200,800	221,400	307,900	301,500	297,600	324,800
Payables turnover		0.99	1.13	1.28	1.06	0.48	0.39	0.40	0.61	2.12	3.32	4.51	4.04	5.37	5.98	8.02	7.66	4.78	4.37	4.47	4.06

December 31, 2023 calculation

Payables turnover = Cost of revenue (ttm) ÷ Payables
= $291,000K ÷ $293,800K
= 0.99

The payables turnover ratio for Spire Inc. has been fluctuating over the past eight quarters. In Q1 2024, the payables turnover ratio was 4.11, indicating that the company's ability to pay off its trade payables improved compared to the previous quarter, Q4 2023, where the ratio was 4.98. However, the payables turnover ratio in Q1 2024 was lower than in Q3 2023 and Q2 2023, where it was 6.39 and 5.55 respectively, suggesting a decrease in the efficiency of paying off trade payables during that period.

Furthermore, comparing the latest ratio with the same quarter in the previous year, Q1 2023 (2.16), there has been a significant improvement in managing payables. Overall, the trend in payables turnover shows some variability but generally indicates an improvement in managing trade payables efficiently over the quarters, with some fluctuations within the period.