Worthington Steel Inc (WS)
Payables turnover
| May 31, 2024 | Feb 29, 2024 | Nov 30, 2023 | Aug 31, 2023 | Feb 28, 2023 | Nov 30, 2022 | Aug 31, 2022 | ||
|---|---|---|---|---|---|---|---|---|
| Cost of revenue (ttm) | US$ in thousands | 2,990,774 | 2,928,274 | 3,067,974 | 3,306,207 | |||
| Payables | US$ in thousands | 380,400 | 407,300 | 349,900 | — | — | — | — |
| Payables turnover | 7.86 | 7.19 | 8.77 | — |
May 31, 2024 calculation
Payables turnover = Cost of revenue (ttm) ÷ Payables
= $2,990,774K ÷ $380,400K
= 7.86
Worthington Steel Inc's payables turnover has shown fluctuations over the past few quarters. The payables turnover ratio indicates the efficiency with which the company pays its suppliers. A higher turnover ratio suggests that the company is managing its payables effectively by paying off its suppliers more frequently.
As of May 31, 2024, the payables turnover ratio stands at 7.86, indicating that Worthington Steel Inc pays its suppliers approximately 7.86 times a year. This suggests that the company is efficiently managing its payables compared to previous periods, such as Nov 30, 2023 (8.77) and Feb 29, 2024 (7.19).
The upward trend in the payables turnover ratio from Feb 28, 2023 (not available) to Nov 30, 2023, suggests that Worthington Steel Inc has been improving its payables management over these periods. However, the absence of data for Aug 31, 2023, and earlier periods limits the ability to provide a complete trend analysis.
Overall, based on the available data, Worthington Steel Inc has shown a positive trend in managing its payables efficiently, as indicated by the increasing payables turnover ratios in recent periods.
Peer comparison
May 31, 2024