Bristow Group Inc (VTOL)
Payables turnover
| Dec 31, 2023 | Dec 31, 2022 | Mar 31, 2022 | Mar 31, 2021 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Cost of revenue | US$ in thousands | 269,532 | 5,187 | 277,471 | 403,609 | 44,380 |
| Payables | US$ in thousands | 87,885 | 89,610 | 63,497 | 69,542 | — |
| Payables turnover | 3.07 | 0.06 | 4.37 | 5.80 | — |
December 31, 2023 calculation
Payables turnover = Cost of revenue ÷ Payables
= $269,532K ÷ $87,885K
= 3.07
Bristow Group Inc's payables turnover has fluctuated significantly over the years, as indicated by the data provided. The payables turnover ratio measures how efficiently a company manages its payables by showing the number of times a company pays off its average accounts payable balance during a period.
In comparison to previous years, Bristow Group Inc's payables turnover was extremely low at 0.06 in December 2022, indicating a prolonged payment cycle during that period. However, this was followed by a substantial improvement to 3.07 in December 2023, reflecting a more efficient management of payables.
The highest payables turnover of 5.80 was recorded in March 2021, indicating a shorter payment cycle and efficient handling of accounts payable during that period. The interim figure of 4.37 from March 2022 also shows a strong performance in managing payables.
Overall, Bristow Group Inc has shown variability in its payables turnover ratio over the years, with improvements in efficiency seen in some periods and specific areas where the company may need to focus on optimizing its payables management for better financial health.