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