Worthington Industries Inc (WOR)
Payables turnover
| Nov 30, 2024 | Aug 31, 2024 | Feb 29, 2024 | Nov 30, 2023 | Aug 31, 2023 | May 31, 2023 | Feb 28, 2023 | Nov 30, 2022 | Aug 31, 2022 | May 31, 2022 | Feb 28, 2022 | Nov 30, 2021 | Aug 31, 2021 | May 31, 2021 | Feb 28, 2021 | Nov 30, 2020 | Aug 31, 2020 | May 31, 2020 | Feb 29, 2020 | Nov 30, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cost of revenue (ttm) | US$ in thousands | 873,394 | 915,695 | 1,705,378 | 1,729,079 | 2,563,908 | 3,560,910 | 3,928,994 | 4,896,760 | 4,875,250 | 4,527,404 | 3,926,995 | 3,286,896 | 2,834,244 | 2,532,351 | 2,301,917 | 2,355,357 | 2,466,765 | 2,615,782 | 2,906,884 | 3,042,793 |
| Payables | US$ in thousands | 83,262 | 82,768 | 108,660 | 447,119 | 526,686 | 126,743 | 489,346 | 481,273 | 580,509 | 668,438 | 722,284 | 610,278 | 653,377 | 567,392 | 412,793 | 337,976 | 294,172 | 247,017 | 361,356 | 330,959 |
| Payables turnover | 10.49 | 11.06 | 15.69 | 3.87 | 4.87 | 28.10 | 8.03 | 10.17 | 8.40 | 6.77 | 5.44 | 5.39 | 4.34 | 4.46 | 5.58 | 6.97 | 8.39 | 10.59 | 8.04 | 9.19 |
November 30, 2024 calculation
Payables turnover = Cost of revenue (ttm) ÷ Payables
= $873,394K ÷ $83,262K
= 10.49
Worthington Industries Inc's payables turnover ratio has shown fluctuations over the years. The ratio decreased from 9.19 in November 2019 to 5.39 in November 2021 before increasing to 10.17 in November 2022. However, there was a significant spike to 28.10 in May 2023, indicating a substantial improvement in the company's efficiency in managing its accounts payable.
Subsequently, the ratio dropped to 3.87 in November 2023, suggesting a potential delay in paying back suppliers. This was followed by a sharp increase to 15.69 in February 2024, indicating a more rapid turnover of payables during that period. The ratio then decreased to 10.49 in November 2024.
Overall, the payables turnover ratio of Worthington Industries Inc has shown variability, with periods of both improvement and potential challenges in managing accounts payable effectively. Further analysis and contextual information would be needed to fully understand the reasons behind these fluctuations and their impact on the company's financial performance.
Peer comparison
Nov 30, 2024