Viad Corp (VVI)

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	5,424	5,021	5,896	7,127	7,323	7,939	8,771	8,155	10,346	10,100	19,006	18,334	31,889	32,354	22,571	25,702	8,939	7,992	5,730	1,701
Payables	US$ in thousands	77,405	81,494	106,059	93,623	73,020	—	100,978	74,933	69,657	59,543	31,763	20,559	21,037	22,069	31,927	86,050	86,660	89,389	100,312	83,635
Payables turnover		0.07	0.06	0.06	0.08	0.10	—	0.09	0.11	0.15	0.17	0.60	0.89	1.52	1.47	0.71	0.30	0.10	0.09	0.06	0.02

December 31, 2023 calculation

Payables turnover = Cost of revenue (ttm) ÷ Payables
= $5,424K ÷ $77,405K
= 0.07

The payables turnover ratio for Viad Corp. has fluctuated over the past eight quarters, ranging from 8.65 to 14.60. A high payables turnover ratio indicates that the company is efficiently managing its accounts payable by paying suppliers quickly, which could be beneficial in terms of maintaining good relationships with vendors. On the other hand, a lower ratio may suggest that the company is taking longer to pay off its suppliers, which could potentially strain relationships or indicate underlying financial difficulties.

In Q4 2023, the payables turnover ratio was 14.60, showing an improvement from the previous quarter and reaching one of the highest values in the provided data. This increase suggests that Viad Corp. was able to pay off its suppliers more frequently during this period. However, it is essential to assess this ratio in conjunction with other financial metrics to get a comprehensive understanding of the company's overall financial health and operational efficiency.