Altair Engineering Inc (ALTR)

Payables turnover

		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	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019
Cost of revenue (ttm)	US$ in thousands	398,264	399,716	411,186	411,514	408,719	403,498	393,786	383,979	376,836	377,674	370,033	362,236	345,600	336,787	334,739	336,869	342,137	286,240	238,978	183,255
Payables	US$ in thousands	6,522	8,995	5,159	4,682	6,014	10,434	6,235	4,962	6,061	6,647	4,900	6,515	6,671	8,594	5,413	4,780	5,625	8,585	8,286	6,462
Payables turnover		61.06	44.44	79.70	87.89	67.96	38.67	63.16	77.38	62.17	56.82	75.52	55.60	51.81	39.19	61.84	70.47	60.82	33.34	28.84	28.36

March 31, 2024 calculation

Payables turnover = Cost of revenue (ttm) ÷ Payables
= $398,264K ÷ $6,522K
= 61.06

Altair Engineering Inc's payables turnover ratio has been fluctuating over the past several quarters. The payables turnover ratio measures how quickly a company pays its suppliers. A higher payables turnover ratio generally indicates that the company is paying its suppliers more quickly.

Looking at the trend, we can see that there has been significant variability in Altair Engineering Inc's payables turnover ratio over the periods analyzed. In the most recent quarter ending March 31, 2024, the payables turnover ratio was 61.06, which was higher compared to the previous quarter at 44.44. This suggests that the company may have accelerated its payments to suppliers in the most recent quarter.

Overall, Altair Engineering Inc's payables turnover ratio seems to be relatively high, indicating that the company is managing its payables efficiently by paying suppliers relatively quickly. However, it is essential to consider other factors and industry norms to gain a comprehensive understanding of the company's financial management practices.