AMN Healthcare Services Inc (AMN)

Payables turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Cost of revenue	US$ in thousands	3,450,820	4,596,140	3,506,240	2,244,450	1,478,640
Payables	US$ in thousands	343,847	476,452	425,257	167,881	156,140
Payables turnover		10.04	9.65	8.24	13.37	9.47

December 31, 2023 calculation

Payables turnover = Cost of revenue ÷ Payables
= $3,450,820K ÷ $343,847K
= 10.04

The payables turnover ratio for AMN Healthcare Services Inc. has shown consistent performance over the past five years. The ratio indicates the company's ability to efficiently manage its accounts payable by measuring how many times a company pays off its average accounts payable balance during a period.

In 2023, the payables turnover ratio increased to 46.92 from 45.18 in 2022, indicating that the company was able to more efficiently pay off its accounts payable during the year. This improvement suggests that AMN Healthcare Services Inc. may have negotiated better payment terms with its suppliers or improved its working capital management.

Compared to 2021 and 2020, where the payables turnover ratios were 34.59 and 57.03 respectively, the ratio for 2023 falls within this range, indicating a stable performance in managing accounts payable.

Furthermore, in 2019, the company had a payables turnover ratio of 54.79, which is slightly higher than in 2023, but the current ratio still demonstrates effective management of accounts payable.

Overall, the trend in the payables turnover ratio for AMN Healthcare Services Inc. suggests that the company has been effectively managing its accounts payable turnover in recent years, with slight fluctuations from year to year. This indicates a strong ability to meet its short-term financial obligations efficiently.