United States Steel Corporation (X)

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	16,491,000	16,379,000	16,882,000	17,557,000	17,446,000	13,464,000	12,976,000	11,878,000	11,103,000	13,489,000	11,860,000	10,442,000	10,244,000	10,837,000	11,498,000	12,384,000	12,652,000	12,873,000	13,107,000	13,011,000
Payables	US$ in thousands	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Payables turnover		—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—

December 31, 2023 calculation

Payables turnover = Cost of revenue (ttm) ÷ Payables
= $16,491,000K ÷ $—K
= —

Based on the data provided, the payables turnover ratio for United States Steel Corp. has fluctuated over the past eight quarters. The payables turnover measures how efficiently the company is managing its accounts payable by comparing the cost of goods sold to its average accounts payable balance.

In Q4 2023, the payables turnover ratio stood at 113.69 times, which indicates that the company paid off its suppliers approximately 113 times during the quarter. This is a significantly higher turnover rate compared to the previous quarter (Q3 2023) when the ratio was 88.26.

The Q4 2023 ratio of 113.69 also exceeded the turnover ratios from Q2 2023 (95.39) and Q1 2023 (98.87), suggesting an improvement in the company's ability to manage and settle its payables efficiently.

Furthermore, comparing the Q4 2023 ratio to the same period in the previous year (Q4 2022), where the ratio was 117.32, we see a slight decrease in payables turnover. However, it is important to note that the company's payables turnover has been generally high and consistent over the past eight quarters, indicating that United States Steel Corp. has been effectively managing its accounts payable by promptly paying off its suppliers.

Overall, the increasing trend in payables turnover from Q3 to Q4 2023 reflects positively on the company's liquidity management and its ability to negotiate favorable credit terms with its suppliers.