Worthington Steel Inc (WS)
Payables turnover
| May 31, 2024 | Aug 31, 2023 | Aug 31, 2022 | Aug 31, 2021 | ||
|---|---|---|---|---|---|
| Cost of revenue | US$ in thousands | 2,990,800 | 3,271,180 | 3,673,470 | 1,756,560 |
| Payables | US$ in thousands | 380,400 | — | — | — |
| Payables turnover | 7.86 | — | — | — |
May 31, 2024 calculation
Payables turnover = Cost of revenue ÷ Payables
= $2,990,800K ÷ $380,400K
= 7.86
The payables turnover for Worthington Steel Inc as of May 31, 2024, is 7.86. The payables turnover ratio indicates how many times a company pays off its accounts payable during a specific period. A higher payables turnover ratio generally indicates that the company is managing its accounts payable efficiently by paying its suppliers more frequently.
Comparing this ratio to prior periods, it appears that data is not available for August 31, 2023, August 31, 2022, and August 31, 2021. Without this historical data, it is challenging to gauge the trend in Worthington Steel Inc's payables turnover over time.
A payables turnover of 7.86 indicates that Worthington Steel Inc is paying off its accounts payable almost eight times during the year, which suggests that the company has a relatively quick turnover of its payables. Further analysis in conjunction with other financial metrics would provide a more comprehensive evaluation of the company's financial performance and liquidity management.
Peer comparison
May 31, 2024