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', HOFVW's payables turnover was 2.38, indicating how promptly the company pays its suppliers. Industry average for Services-Misc. Amusement & Recreation in '2021' stood at 3.19.
• In '2022', HOFVW's payables turnover was 0.37, indicating how promptly the company pays its suppliers. The decline from '2021' may indicate some operational or financial challenges. Industry average for Services-Misc. Amusement & Recreation in '2022' stood at 3.20. Industry average increased by 0.00 compared to previous year.
• In '2023', HOFVW's payables turnover was 0.31, indicating how promptly the company pays its suppliers. The decline from '2022' may indicate some operational or financial challenges. Industry average for Services-Misc. Amusement & Recreation in '2023' stood at 2.98. Industry average declined by 0.21 from previous year.
• In '2024', HOFVW's payables turnover was 0.27, indicating how promptly the company pays its suppliers. The decline from '2023' may indicate some operational or financial challenges. Industry average for Services-Misc. Amusement & Recreation in '2024' stood at 2.86. Industry average declined by 0.13 from previous year.
Overall, HOFVW's payables turnover has been volatile but showed a downward trend over the past 4 years.

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

Good Range: Ranges 5-15 depending on industry.