Addus HomeCare Corporation (ADUS)
Payables turnover
| Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cost of revenue (ttm) | US$ in thousands | 1,059,076 | 1,030,062 | 1,014,110 | 991,810 | 967,700 | 945,550 | 920,647 | 902,252 | 883,556 | 862,604 | 838,927 | 819,726 | 798,563 | 777,559 | 759,721 | 733,845 | 720,468 | 712,371 | 693,430 | 660,440 |
| Payables | US$ in thousands | 27,176 | 27,726 | 20,188 | 22,022 | 26,183 | 21,375 | 20,699 | 21,758 | 22,092 | 19,545 | 21,346 | 21,004 | 19,358 | 23,167 | 23,942 | 23,459 | 23,705 | 17,270 | 17,201 | 17,561 |
| Payables turnover | 38.97 | 37.15 | 50.23 | 45.04 | 36.96 | 44.24 | 44.48 | 41.47 | 39.99 | 44.13 | 39.30 | 39.03 | 41.25 | 33.56 | 31.73 | 31.28 | 30.39 | 41.25 | 40.31 | 37.61 |
December 31, 2024 calculation
Payables turnover = Cost of revenue (ttm) ÷ Payables
= $1,059,076K ÷ $27,176K
= 38.97
The payables turnover ratio reflects how efficiently a company manages its accounts payable in relation to its purchases. For Addus HomeCare Corporation, the payables turnover ratio has shown fluctuation over the period from March 31, 2020, to December 31, 2024. The ratio increased from 37.61 on March 31, 2020, to a peak of 50.23 on June 30, 2024, indicating an improvement in the company's ability to pay off its suppliers faster.
However, there are fluctuations in the ratio during the period, with some quarters showing decreases. For example, there was a notable dip in the payables turnover ratio from 41.25 on December 31, 2020, to 30.39 on March 31, 2021. This could suggest that the company took longer to pay its suppliers during that period.
Overall, the trend in the payables turnover ratio for Addus HomeCare Corporation has been positive, showing an overall improvement in managing its accounts payable efficiently. Analyzing the payables turnover ratio alongside other liquidity and efficiency ratios would provide a more comprehensive view of the company's financial performance.
Peer comparison
Dec 31, 2024