Tidewater Inc (TDW)

Payables turnover

		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	Sep 30, 2019
Cost of revenue (ttm)	US$ in thousands	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	467,189
Payables	US$ in thousands	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	23,672
Payables turnover		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	19.74

June 30, 2024 calculation

Payables turnover = Cost of revenue (ttm) ÷ Payables
= $1,000,867K ÷ $60,740K
= 16.48

The payables turnover ratio for Tidewater Inc has exhibited fluctuations over the past few quarters. The ratio has shown a general upward trend, indicating an improvement in the management of the company's accounts payable.

In the most recent quarter, as of June 30, 2024, the payables turnover ratio stands at 16.48, slightly lower than the previous quarter's ratio of 17.68. This suggests that Tidewater Inc took longer to pay off its trade payables compared to the previous quarter.

Looking at the historical trend, the payables turnover ratio has generally increased since December 2021, peaking at 42.23 in the third quarter of 2020. This steady increase indicates that the company has been more efficient in settling its payables over time.

Overall, the payables turnover ratio provides insight into how quickly Tidewater Inc is paying off its suppliers relative to its purchases on credit. A higher ratio typically indicates a more efficient management of payables, while a lower ratio may suggest a potential liquidity issue or inefficiency in managing working capital.