Tidewater Inc (TDW)

Payables turnover

		Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	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
Cost of revenue (ttm)	US$ in thousands	1,026,277	1,000,867	915,282	835,798	773,774	701,689	684,481	626,906	577,516	518,441	468,311	462,922	450,042	448,314	506,302	539,082	546,958	553,083	502,453	479,655
Payables	US$ in thousands	64,058	60,740	51,774	44,931	57,183	69,822	64,775	38,946	31,829	30,537	23,696	20,788	18,042	16,189	14,622	16,981	12,953	17,111	30,711	27,501
Payables turnover		16.02	16.48	17.68	18.60	13.53	10.05	10.57	16.10	18.14	16.98	19.76	22.27	24.94	27.69	34.63	31.75	42.23	32.32	16.36	17.44

September 30, 2024 calculation

Payables turnover = Cost of revenue (ttm) ÷ Payables
= $1,026,277K ÷ $64,058K
= 16.02

The payables turnover ratio for Tidewater Inc has shown fluctuations over the past 20 quarters. The ratio indicates how efficiently the company is managing its payables by measuring how many times a company pays off its average accounts payable balance during a period.

From December 2019 to March 2020, there was a significant increase in the payables turnover ratio, suggesting that the company was paying off its accounts payable more frequently during this period. This trend continued until December 2020, with the ratio peaking at 42.23 times.

From September 2020 to September 2022, the payables turnover ratio remained relatively stable, indicating consistent management of payables during this period.

However, from December 2022 onwards, there was an increasing trend in the payables turnover ratio, indicating that the company was taking longer to pay off its accounts payable compared to previous periods. This trend could imply a change in payment terms or cash flow management strategies within the company.

Overall, the payables turnover ratio for Tidewater Inc has shown variability over the analyzed periods, reflecting changes in the company's payment practices and relationships with suppliers. This metric is essential for assessing the efficiency of the company's working capital management and its relationships with trade creditors.