Uber Technologies Inc (UBER)

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	30,045,000	29,676,000	29,734,000	29,780,000	28,470,000	26,234,000	23,263,000	20,038,000	17,228,000	14,174,000	13,119,000	11,992,000	12,350,000	13,974,000	14,288,000	15,914,000	15,299,000
Payables	US$ in thousands	790,000	799,000	694,000	712,000	728,000	774,000	810,000	862,000	860,000	310,000	429,000	232,000	235,000	240,000	253,000	215,000	272,000	126,000	167,000	151,000
Payables turnover		38.03	37.14	42.84	41.83	39.11	33.89	28.72	23.25	20.03	45.72	30.58	51.69	52.55	58.22	56.47	74.02	56.25

December 31, 2023 calculation

Payables turnover = Cost of revenue (ttm) ÷ Payables
= $30,045,000K ÷ $790,000K
= 38.03

The payables turnover ratio measures how efficiently a company manages its accounts payable by calculating how many times a company pays off its average accounts payable balance during a period.

Uber Technologies Inc's payables turnover has been steadily increasing over the past eight quarters, indicating an improvement in its ability to manage its payables effectively. As of Q4 2023, the payables turnover ratio stands at 28.43, meaning that Uber pays off its accounts payable balance approximately 28.43 times a year.

The increasing trend in payables turnover suggests that Uber is becoming more efficient in managing its payments to suppliers or vendors, potentially leading to better cash flow management and stronger supplier relationships. However, it is essential to consider industry benchmarks and compare the ratio with peers to gain a comprehensive understanding of Uber's payables management performance.