Axcelis Technologies Inc (ACLS)
Payables turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Cost of revenue | US$ in thousands | 639,303 | 518,208 | 375,983 | 275,976 | 198,806 |
| Payables | US$ in thousands | 54,400 | 62,346 | 38,025 | 24,013 | 25,341 |
| Payables turnover | 11.75 | 8.31 | 9.89 | 11.49 | 7.85 |
December 31, 2023 calculation
Payables turnover = Cost of revenue ÷ Payables
= $639,303K ÷ $54,400K
= 11.75
The payables turnover ratio for Axcelis Technologies Inc has shown fluctuations over the past five years. In 2023, the company's payables turnover ratio was 11.75, indicating that the company converted its accounts payable nearly 12 times during the year. This represents an improvement compared to the previous year, where the ratio was 8.31.
A higher payables turnover ratio generally indicates that a company is efficiently managing its accounts payable by paying its suppliers quickly. This could be positive as it may suggest good relationships with suppliers and potentially negotiating favorable credit terms.
However, it is important to note that payables turnover ratios can vary between industries and companies, so it is essential to compare Axcelis Technologies Inc's ratio with industry benchmarks and historical trends to gain a better understanding of its performance in managing its accounts payable effectively.
Peer comparison
Dec 31, 2023