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', PETS's payables turnover was 5.36, indicating how promptly the company pays its suppliers. Industry average for Retail-Drug Stores and Proprietary Stores in '2021' stood at 6.66.
• In '2022', PETS's payables turnover was 4.19, indicating how promptly the company pays its suppliers. The decline from '2021' may indicate some operational or financial challenges. Industry average for Retail-Drug Stores and Proprietary Stores in '2022' stood at 6.75. Industry average increased by 0.09 compared to previous year.
• In '2023', PETS's payables turnover was 3.54, indicating how promptly the company pays its suppliers. The decline from '2022' may indicate some operational or financial challenges. Industry average for Retail-Drug Stores and Proprietary Stores in '2023' stood at 6.06. Industry average declined by 0.70 from previous year.
• In '2024', PETS's payables turnover was 3.48, indicating how promptly the company pays its suppliers. The decline from '2023' may indicate some operational or financial challenges. Industry average for Retail-Drug Stores and Proprietary Stores in '2024' stood at 5.89. Industry average declined by 0.16 from previous year.
Overall, PETS'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.