United States Steel Corporation (X)
Payables turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Cost of revenue | US$ in thousands | 16,511,000 | 17,452,000 | 15,386,000 | 10,241,000 | 12,654,000 |
| Payables | US$ in thousands | — | — | — | — | — |
| Payables turnover | — | — | — | — | — |
December 31, 2023 calculation
Payables turnover = Cost of revenue ÷ Payables
= $16,511,000K ÷ $—K
= —
United States Steel Corp.'s payables turnover ratio measures the efficiency with which the company pays its suppliers. A higher payables turnover ratio indicates that the company is paying its suppliers more frequently within a given period. On analyzing the trend in the payables turnover ratio over the past five years, it is observed that there has been some fluctuation:
- In 2023, the payables turnover ratio decreased slightly to 113.69 from 117.32 in 2022. This decrease may indicate that the company took slightly longer to pay its suppliers in 2023 compared to the previous year.
- In 2022, the ratio was 117.32, which was a decrease from 146.80 in 2021. This significant decrease could suggest that the company took longer to pay its suppliers in 2022, possibly due to changes in its payment terms or supplier relationships.
- In 2021, the payables turnover ratio was 146.80, showing a considerable improvement from 91.03 in 2020. This indicates that the company paid its suppliers more frequently in 2021, which could be a positive sign of strong cash management.
- In 2020, the ratio was 91.03, a decrease from 143.83 in 2019. This decrease suggests that the company took longer to pay its suppliers in 2020 compared to the previous year, possibly due to economic conditions or internal operational factors.
- In 2019, the payables turnover ratio was 143.83, indicating a strong performance in paying suppliers efficiently within that year.
Overall, while there have been fluctuations in the payables turnover ratio over the past five years, it is essential for United States Steel Corp. to monitor and manage its payables effectively to maintain healthy supplier relationships and optimize cash flow in the future.
Peer comparison
Dec 31, 2023