Under Armour Inc A (UAA)

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 A has shown some fluctuations over the past few quarters. The ratio indicates how efficiently the company is managing its accounts payable. A higher ratio suggests that the company is paying its suppliers more quickly.

In the most recent quarter (Mar 31, 2024), the payables turnover ratio was 6.35, which was significantly higher compared to the previous quarter (Dec 31, 2023) at 4.48. This may indicate that the company has improved its efficiency in paying its suppliers.

Looking at the trend over the past few quarters, there have been fluctuations in the payables turnover ratio, ranging from a low of 3.55 in Jun 30, 2020, to a high of 7.55 in Dec 31, 2019. This suggests that Under Armour Inc A has been actively managing its payables but may experience variability in its payment practices.

Overall, a higher payables turnover ratio is generally favorable, as it indicates that the company is effectively managing its payables and maintaining good relationships with its suppliers by paying them in a timely manner. However, it is important to consider the industry norms and compare the ratio with competitors to assess the company's performance in a broader context.