Name: Payables Turnover

Definition: Payables turnover shows how fast the company pays its suppliers for goods or services bought on credit. A high turnover means the company pays suppliers quickly, which may reflect strong cash flow or favorable terms. A very low turnover might mean the company is stretching payments to preserve cash — or possibly experiencing financial strain.

Interpretation:
• In '2021', HL's payables turnover was 7.33, indicating how promptly the company pays its suppliers. Industry average for Mining & Quarrying of Nonmetallic Minerals (No Fuels) in '2021' stood at 5.12.
• In '2022', HL's payables turnover was 7.13, indicating how promptly the company pays its suppliers. The decline from '2021' may indicate some operational or financial challenges. Industry average for Mining & Quarrying of Nonmetallic Minerals (No Fuels) in '2022' stood at 4.74. Industry average declined by 0.38 from previous year.
• In '2023', HL's payables turnover was 6.99, indicating how promptly the company pays its suppliers. The decline from '2022' may indicate some operational or financial challenges. Industry average for Mining & Quarrying of Nonmetallic Minerals (No Fuels) in '2023' stood at 4.28. Industry average declined by 0.46 from previous year.
• In '2024', HL's payables turnover was 8.11, indicating how promptly the company pays its suppliers. The increase since '2023' reflects strengthening financial performance. Industry average for Mining & Quarrying of Nonmetallic Minerals (No Fuels) in '2024' stood at 6.29. Industry average increased by 2.01 compared to previous year.
Overall, HL's payables turnover has steadily improved over the past 4 years.

Formula: Payables Turnover = Cost of Goods Sold / Average Accounts Payable

Good Range: Ranges 5-15 depending on industry.