Uber Technologies Inc (UBER)
Payables turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Cost of revenue | US$ in thousands | 30,045,000 | 28,470,000 | 17,228,000 | 12,523,000 | 15,299,000 |
| Payables | US$ in thousands | 790,000 | 728,000 | 860,000 | 235,000 | 272,000 |
| Payables turnover | 38.03 | 39.11 | 20.03 | 53.29 | 56.25 |
December 31, 2023 calculation
Payables turnover = Cost of revenue ÷ Payables
= $30,045,000K ÷ $790,000K
= 38.03
The payables turnover ratio for Uber Technologies Inc has fluctuated over the past five years. In 2023, the payables turnover ratio improved significantly to 28.43, indicating that Uber paid its suppliers or vendors 28.43 times during the year, which is a substantial increase from the prior year. This suggests that Uber is managing its accounts payables efficiently and making payments to suppliers more frequently.
In contrast, in 2021, the payables turnover ratio was relatively low at 10.87, implying that Uber took longer to pay its vendors compared to other years. However, there was an improvement in 2022 and a significant increase in 2023, reflecting a more efficient management of accounts payable during those years.
Overall, the upward trend in the payables turnover ratio indicates that Uber has been improving its ability to settle its payables faster over the past few years, which may positively impact its relationships with suppliers and liquidity management.
Peer comparison
Dec 31, 2023