Viper Energy Ut (VNOM)

Payables turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Cost of revenue	US$ in thousands	156,721	129,642	110,787	177,868	85,667
Payables	US$ in thousands	—	1,129	69	43	0
Payables turnover		—	114.83	1,605.61	4,136.47	—

December 31, 2023 calculation

Payables turnover = Cost of revenue ÷ Payables
= $156,721K ÷ $—K
= —

The payables turnover ratio for Viper Energy Ut has shown significant fluctuation over the past five years. In 2023, the payables turnover ratio was not available. In 2022, the ratio was 114.83, indicating that the company converted its accounts payable into purchases 114.83 times during the year.

The substantial increase in the payables turnover ratio from 2022 to 2021, where it reached 1,605.61, suggests that Viper Energy Ut managed its accounts payables more efficiently, possibly paying off its obligations more frequently. This high turnover rate could also indicate strong supplier relationships or favorable payment terms.

Similarly, in 2020, the payables turnover ratio increased significantly to 4,136.47, reflecting a further improvement in the company's management of accounts payable. This could imply better cash flow management and liquidity.

The lack of data for 2019 and 2023 makes it challenging to ascertain the full trend over the five-year period. However, based on the available data points, it is evident that Viper Energy Ut has experienced notable variations in its payables turnover ratio, potentially indicating changes in its payment practices and relationship with suppliers.