Viper Energy Ut (VNOM)

Payables turnover

		Sep 30, 2024	Jun 30, 2024	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
Cost of revenue (ttm)	US$ in thousands	233,906	202,425	174,936	156,721	141,820	136,259	134,029	129,642	126,244	120,746	113,044	110,787	179,852	179,342	177,667	177,868	107,400	101,311	95,081	85,667
Payables	US$ in thousands	—	—	—	—	—	—	436	1,129	17	9	14	69	208	39	21	43	95	11	324	0
Payables turnover		—	—	—	—	—	—	307.41	114.83	7,426.12	13,416.22	8,074.57	1,605.61	864.67	4,598.51	8,460.33	4,136.47	1,130.53	9,210.09	293.46	—

September 30, 2024 calculation

Payables turnover = Cost of revenue (ttm) ÷ Payables
= $233,906K ÷ $—K
= —

The payables turnover ratio for Viper Energy Ut has shown significant fluctuations over the past few periods. The payables turnover ratio measures the company's efficiency in managing its trade payables by comparing the cost of goods sold to the average accounts payable balance during a specific period.

In the most recent available data, the payables turnover ratio for Viper Energy Ut was not reported for the September 2024 quarter, indicating potential data unavailability or reporting delays. Prior to that, the payables turnover ratio was drastically high in June 2024 at 7,426.12, reflecting a very rapid turnover of payables during that period. This extremely high ratio may be due to specific factors, such as seasonal variations, changes in payment terms, or one-time events impacting payables management.

In contrast, the payables turnover ratio was more moderate in previous quarters, ranging from 293.46 to 13,416.22. The ratio of 114.83 in March 2023, for example, indicates that the company converted its payables into cash 114.83 times during that quarter.

Overall, the fluctuating nature of the payables turnover ratio for Viper Energy Ut suggests variations in the company's payment practices and interactions with suppliers. A high ratio may signify efficient payables management, while a low ratio could indicate a potential liquidity issue or extended payment terms. Further analysis and comparison with industry benchmarks would provide more insights into the effectiveness of Viper Energy Ut's payables management.