Under Armour Inc C (UA)

Payables turnover

		Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 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	3,071,506	3,130,914	3,199,376	3,244,712	3,254,296	3,215,559	3,089,611	2,912,273	2,821,967	2,778,839	2,768,112	2,443,870	2,314,572	2,364,126	2,356,983	2,635,920	2,796,599	2,801,654	2,839,865	2,850,732
Payables	US$ in thousands	483,731	699,431	542,309	714,189	648,486	738,740	747,330	669,203	613,307	532,919	613,566	490,860	575,954	643,315	664,288	417,397	618,194	483,627	607,382	377,401
Payables turnover		6.35	4.48	5.90	4.54	5.02	4.35	4.13	4.35	4.60	5.21	4.51	4.98	4.02	3.67	3.55	6.32	4.52	5.79	4.68	7.55

March 31, 2024 calculation

Payables turnover = Cost of revenue (ttm) ÷ Payables
= $3,071,506K ÷ $483,731K
= 6.35

The payables turnover ratio for Under Armour Inc C has shown fluctuations over the past several quarters. The ratio indicates how efficiently the company is managing its accounts payable. A higher payables turnover ratio suggests that the company is paying its suppliers more frequently, which could indicate a strong liquidity position or good bargaining power.

Based on the data provided, the payables turnover ratio has ranged from 3.55 to 7.55 over the past few years. The ratio peaked at 7.55 in March 2019, indicating a relatively high level of efficiency in managing payables during that period. However, there have been fluctuations in the ratio since then, with occasional increases and decreases.

The most recent data point, at March 31, 2024, shows a payables turnover ratio of 6.35. This indicates that the company is paying its suppliers approximately 6.35 times within the given period. The increasing trend from December 2021 to March 2024 suggests that the company may be managing its accounts payable more efficiently.

Overall, the payables turnover ratio for Under Armour Inc C has varied over time, reflecting changes in the company's payment practices and relationships with its suppliers. It is important for investors and stakeholders to monitor this ratio continuously to assess the company's financial health and efficiency in managing its working capital.