Toro Co (TTC)

Based on the payables turnover data for Toro Co. from 2019 to 2023, we can analyze the company's efficiency in managing its accounts payable. The payables turnover ratio measures how many times a company pays off its accounts payable during a specific period. A higher payables turnover ratio generally indicates that a company is managing its accounts payable well.

From 2019 to 2023, Toro Co.'s payables turnover ratio has fluctuated. In 2019, the payables turnover ratio was 6.55 times, indicating that the company paid off its accounts payable 6.55 times during the year. This suggests efficient management of its payables during that period.

In 2020, the payables turnover ratio decreased to 6.01, which could indicate a slightly longer payment period for the company's accounts payable compared to the previous year. This may raise questions about the company's cash management and payment efficiency during this period.

In 2021, the payables turnover ratio remained relatively stable at 5.21, suggesting a consistent approach to managing accounts payable compared to the previous year.

However, in 2022, the payables turnover ratio decreased to 5.20, raising concerns about the company's ability to efficiently manage its payables compared to previous years.

The most recent data for 2023 shows an improvement in the payables turnover ratio, increasing to 6.92. This indicates that Toro Co. has regained efficiency in managing its accounts payable, potentially reflecting an improvement in the company's payment practices and working capital management during this period.

Overall, it is important to consider the payables turnover ratio in conjunction with other financial metrics and industry benchmarks to gain a comprehensive understanding of Toro Co.'s financial management and operational efficiency. Further analysis of cash flow, working capital management, and industry comparisons can provide additional insights into the company's payables turnover performance.