Amphastar P (AMPH)

Payables turnover

		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	Mar 31, 2019
Cost of revenue (ttm)	US$ in thousands	293,274	275,164	264,630	251,767	250,127	250,925	250,321	244,497	238,029	232,465	218,373	216,715	206,506	197,419	195,381	189,412	190,434	195,433	196,831	195,147
Payables	US$ in thousands	25,438	31,970	18,832	21,979	20,501	19,963	31,071	23,843	22,214	21,658	27,752	22,987	24,357	23,170	21,708	16,506	25,061	22,044	31,462	34,273
Payables turnover		11.53	8.61	14.05	11.45	12.20	12.57	8.06	10.25	10.72	10.73	7.87	9.43	8.48	8.52	9.00	11.48	7.60	8.87	6.26	5.69

December 31, 2023 calculation

Payables turnover = Cost of revenue (ttm) ÷ Payables
= $293,274K ÷ $25,438K
= 11.53

Amphastar Pharmaceuticals Inc's payables turnover has demonstrated some fluctuations over the past eight quarters, ranging from a low of 8.06 in Q2 2022 to a high of 14.05 in Q2 2023. The overall trend indicates that the company is managing its accounts payable effectively, with an average turnover ratio of approximately 11.46 during this period. This suggests that, on average, the company pays off its suppliers and vendors approximately 11.46 times per year. A higher turnover ratio generally indicates that the company is efficiently managing its payables, potentially benefiting from favorable credit terms or strong relationships with suppliers. However, it's essential to consider other factors such as industry norms and specific business circumstances to gain a more comprehensive understanding of the company's payables management.