UGI Corporation (UGI)
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 | 7,898,000 | 9,820,000 | 10,250,000 | 9,793,000 | 9,081,000 | 8,061,000 | 6,503,000 | 5,662,000 | 5,428,000 | 4,116,000 | 5,001,900 | 4,945,600 | 4,429,000 | 4,133,400 | 3,950,800 | 3,818,100 | 2,560,200 | 1,548,400 | 894,000 | 187,900 |
| Payables | US$ in thousands | 741,000 | 613,000 | 541,000 | 757,000 | 1,014,000 | 891,000 | 843,000 | 915,000 | 973,000 | 837,000 | 579,000 | 627,000 | 637,000 | 475,000 | 382,000 | 465,000 | 598,000 | 439,000 | 444,400 | 652,100 |
| Payables turnover | 10.66 | 16.02 | 18.95 | 12.94 | 8.96 | 9.05 | 7.71 | 6.19 | 5.58 | 4.92 | 8.64 | 7.89 | 6.95 | 8.70 | 10.34 | 8.21 | 4.28 | 3.53 | 2.01 | 0.29 |
December 31, 2023 calculation
Payables turnover = Cost of revenue (ttm) ÷ Payables
= $7,898,000K ÷ $741,000K
= 10.66
The payables turnover ratio for UGI Corp. has displayed some fluctuations over the past few quarters. The ratio measures how efficiently the company is managing its accounts payable by comparing the purchases made on credit to the average accounts payable balance.
Looking at the data provided, there seems to be a general upward trend in the payables turnover ratio from Q2 2022 to Q3 2023, indicating that UGI Corp. has been improving its efficiency in paying off its debts. Q3 2023 recorded the highest payables turnover ratio of 13.64, suggesting that the company was able to convert its accounts payable into cash more frequently during that period.
Conversely, Q1 2023 and Q4 2022 show lower payables turnover ratios, which could imply that the company took longer to pay off its trade payables during those quarters. It is essential to analyze the reasons behind these fluctuations to assess the company's liquidity and financial health accurately.
Overall, UGI Corp.'s payables turnover ratio has shown variability, but the recent uptrend indicates a positive trend in managing its accounts payable efficiently. This trend is generally indicative of good financial health and effective working capital management.
Peer comparison
Dec 31, 2023