Universal Corporation (UVV)
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 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cost of revenue (ttm) | US$ in thousands | 2,541,566 | 2,480,832 | 2,464,720 | 2,496,831 | 2,405,622 | 2,355,077 | 2,226,735 | 2,039,992 | 1,961,780 | 1,940,836 | 1,963,534 | 1,895,490 | 1,866,328 | 1,891,144 | 1,736,929 | 1,808,168 | 1,785,091 | 1,779,072 | 1,932,037 | 1,984,549 |
| Payables | US$ in thousands | 1,621 | 122 | 166 | 1,495 | 5,830 | 57 | 0 | 88 | 5,308 | — | — | — | — | — | — | — | — | — | — | — |
| Payables turnover | 1,567.90 | 20,334.69 | 14,847.71 | 1,670.12 | 412.63 | 41,317.14 | — | 23,181.73 | 369.59 | — | — | — | — | — | — | — | — | — | — | — |
March 31, 2024 calculation
Payables turnover = Cost of revenue (ttm) ÷ Payables
= $2,541,566K ÷ $1,621K
= 1,567.90
The payables turnover ratio for Universal Corporation has shown significant fluctuations over the past several quarters. In Mar 31, 2024, the payables turnover ratio spiked to 1,567.90, indicating that the company paid off its accounts payable 1,567.90 times during that quarter. This sharp increase from the previous quarter suggests that the company may have managed its payables more efficiently or could have experienced changes in its payment terms with suppliers.
In Dec 31, 2023, the payables turnover ratio was 20,334.69, which was significantly higher compared to previous quarters. Such a high turnover ratio could imply that the company was paying off its suppliers at a very rapid rate during that period.
The ratio dropped to 14,847.71 in Sep 30, 2023, but remained relatively high compared to historical values. This could indicate some seasonal fluctuations or changes in the company's purchasing and payment patterns.
The Jun 30, 2023, ratio of 1,670.12 showed a decline from the previous quarter, but was still relatively high compared to some earlier periods. This may suggest that there were some changes in how Universal Corporation managed its payables during that timeframe.
Overall, the significant variations in the payables turnover ratio for Universal Corporation indicate fluctuations in the company's payment practices and relationships with suppliers. Further analysis of the company's financial statements and business operations would be needed to fully understand the reasons behind these fluctuations.
Peer comparison
Mar 31, 2024