Texas Instruments Incorporated (TXN)

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	7,390,000	6,889,000	6,344,000	6,310,000	6,257,000	6,156,000	6,023,000	5,939,000	5,968,000	5,916,000	5,789,000	5,443,000	5,192,000	3,321,000	3,839,000	4,570,000	5,234,000	5,754,000	5,885,000	5,994,000
Payables	US$ in thousands	802,000	713,000	923,000	952,000	851,000	780,000	712,000	641,000	571,000	596,000	587,000	567,000	415,000	411,000	409,000	363,000	388,000	397,000	412,000	477,000
Payables turnover		9.21	9.66	6.87	6.63	7.35	7.89	8.46	9.27	10.45	9.93	9.86	9.60	12.51	8.08	9.39	12.59	13.49	14.49	14.28	12.57

December 31, 2023 calculation

Payables turnover = Cost of revenue (ttm) ÷ Payables
= $7,390,000K ÷ $802,000K
= 9.21

Texas Instruments Inc.'s payables turnover ratio shows how many times the company pays off its accounts payable within a given period. A higher payables turnover ratio indicates that the company is efficiently managing its accounts payable by paying them off quickly.

From the data provided, we observe fluctuations in the payables turnover ratio over the quarters. In Q4 2023, the payables turnover ratio was 8.10, which decreased from the previous quarter. This suggests that the company took longer to pay off its accounts payable in Q4 2023 compared to Q3 2023.

However, it is important to note that Texas Instruments Inc. historically has had a relatively stable payables turnover ratio, with values generally above 7. This indicates the company's consistent ability to efficiently manage and pay off its accounts payable in a timely manner.

Overall, while there was a slight decrease in the payables turnover ratio in Q4 2023, Texas Instruments Inc. has historically maintained a strong position in managing its accounts payable efficiently.