Titan International Inc (TWI)
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 | 1,663,468 | 1,762,912 | 1,869,070 | 1,937,942 | 1,966,833 | 1,958,791 | 1,906,106 | 1,817,630 | 1,685,279 | 1,573,505 | 1,457,733 | 1,331,393 | 1,293,652 | 1,262,371 | 1,309,243 | 1,413,631 | 1,468,453 | 1,512,714 | 1,533,826 | 1,553,268 |
Payables | US$ in thousands | 201,201 | 194,501 | 231,884 | 276,072 | 263,376 | 256,715 | 284,802 | 302,382 | 278,099 | 253,819 | 239,001 | 221,613 | 167,210 | 150,879 | 136,802 | 179,933 | 158,647 | 182,337 | 209,422 | 250,918 |
Payables turnover | 8.27 | 9.06 | 8.06 | 7.02 | 7.47 | 7.63 | 6.69 | 6.01 | 6.06 | 6.20 | 6.10 | 6.01 | 7.74 | 8.37 | 9.57 | 7.86 | 9.26 | 8.30 | 7.32 | 6.19 |
December 31, 2023 calculation
Payables turnover = Cost of revenue (ttm) ÷ Payables
= $1,663,468K ÷ $201,201K
= 8.27
Titan International, Inc.'s payables turnover ratio has been fluctuating over the past eight quarters. The payables turnover ratio measures how efficiently the company pays its suppliers. A higher turnover ratio indicates that the company is paying its creditors more quickly.
In Q4 2023, the payables turnover ratio was 7.53, showing an improvement from the previous quarter's ratio of 8.31. This indicates that the company took longer to pay its suppliers compared to the previous quarter.
Overall, Titan International, Inc.'s payables turnover ratio has shown some variability, with the ratio ranging from 5.50 to 8.31 over the past eight quarters. It would be important to further investigate the reasons behind these fluctuations to assess the company's liquidity management and supplier relationships.
Peer comparison
Dec 31, 2023