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', ITP's payables turnover was 28.68, indicating how promptly the company pays its suppliers. Industry average for Containers/Packaging in '2021' stood at 4.11.
• In '2022', ITP's payables turnover was 19.59, indicating how promptly the company pays its suppliers. The decline from '2021' may indicate some operational or financial challenges. Industry average for Containers/Packaging in '2022' stood at 4.43. Industry average increased by 0.32 compared to previous year.
• In '2023', ITP's payables turnover was 10.39, indicating how promptly the company pays its suppliers. The decline from '2022' may indicate some operational or financial challenges. Industry average for Containers/Packaging in '2023' stood at 4.50. Industry average increased by 0.07 compared to previous year.
• In '2024', ITP's payables turnover was 6.06, indicating how promptly the company pays its suppliers. The decline from '2023' may indicate some operational or financial challenges. Industry average for Containers/Packaging in '2024' stood at 4.53. Industry average increased by 0.03 compared to previous year.
Overall, ITP'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.