Southwest Gas Holdings Inc (SWX)
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 | 3,147,061 | 3,247,039 | 3,255,109 | 3,182,892 | 3,093,156 | 2,945,450 | 2,803,785 | 2,607,802 | 2,406,851 | 2,289,239 | 2,209,357 | 2,151,314 | 2,124,916 | 2,059,668 | 2,003,043 | 1,967,927 | 1,938,792 | 1,946,590 | 1,877,392 | 1,818,369 |
| Payables | US$ in thousands | 346,907 | 255,251 | 273,950 | 310,748 | 662,090 | 308,824 | 306,753 | 256,606 | 353,365 | 222,959 | 182,304 | 182,805 | 231,301 | 175,507 | 189,373 | 182,182 | 238,921 | 188,896 | 196,915 | 231,343 |
| Payables turnover | 9.07 | 12.72 | 11.88 | 10.24 | 4.67 | 9.54 | 9.14 | 10.16 | 6.81 | 10.27 | 12.12 | 11.77 | 9.19 | 11.74 | 10.58 | 10.80 | 8.11 | 10.31 | 9.53 | 7.86 |
December 31, 2023 calculation
Payables turnover = Cost of revenue (ttm) ÷ Payables
= $3,147,061K ÷ $346,907K
= 9.07
The payables turnover ratio for Southwest Gas Holdings Inc has fluctuated over the past eight quarters. In Q1 2022, the ratio was at its highest level of 6.31, indicating that the company paid off its accounts payable obligations 6.31 times during that quarter. This suggests that the company was able to efficiently manage its accounts payable during that period.
However, the ratio decreased in subsequent quarters, reaching its lowest point of 1.21 in Q4 2022. This may imply that the company took longer to pay off its accounts payable during that quarter compared to other periods.
In the most recent quarter, Q4 2023, the payables turnover ratio improved to 3.61. This suggests that the company was more efficient in managing its accounts payable compared to the previous quarter but still slightly lower than the ratios observed in Q3 and Q2 2023.
Overall, variations in the payables turnover ratio indicate changes in the company's ability to efficiently manage its accounts payable obligations and its relationships with suppliers. Monitoring this ratio over time can provide insights into the company's working capital management and financial performance.
Peer comparison
Dec 31, 2023