Werner Enterprises Inc (WERN)

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	2,243,542	2,269,655	2,291,768	2,318,665	2,258,277	2,172,304	2,073,176	1,858,749	1,697,576	1,529,444	1,379,336	1,335,787	1,348,849	1,372,496	1,408,338	1,446,033	1,437,065	1,442,177	1,436,381	1,441,136
Payables	US$ in thousands	135,990	129,008	119,744	128,955	124,483	115,860	126,178	113,657	93,987	92,425	94,367	113,064	83,263	104,041	84,263	87,698	94,634	89,348	92,713	99,725
Payables turnover		16.50	17.59	19.14	17.98	18.14	18.75	16.43	16.35	18.06	16.55	14.62	11.81	16.20	13.19	16.71	16.49	15.19	16.14	15.49	14.45

December 31, 2023 calculation

Payables turnover = Cost of revenue (ttm) ÷ Payables
= $2,243,542K ÷ $135,990K
= 16.50

The payables turnover ratio for Werner Enterprises, Inc. has been consistently reported as 0.00 in all the quarters displayed in the table. A payables turnover ratio of 0.00 suggests that the company is not effectively managing its accounts payable or is possibly not making any payments to its suppliers during these periods.

A payables turnover ratio of 0.00 over multiple quarters may indicate that the company is facing challenges with cash flow management, liquidity issues, or delays in payments to suppliers. It could also suggest a potential breakdown in the company's supply chain relationships or inefficient operating practices.

Further investigation into the reasons behind the consistently low or non-existent payables turnover ratio would be necessary to fully understand the financial health and operational efficiency of Werner Enterprises, Inc.