ANI Pharmaceuticals Inc (ANIP)
Payables turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Cost of revenue | US$ in thousands | 403,001 | 320,375 | 229,078 | 87,157 | 63,154 |
| Payables | US$ in thousands | 36,683 | 29,305 | 22,967 | 11,261 | 14,606 |
| Payables turnover | 10.99 | 10.93 | 9.97 | 7.74 | 4.32 |
December 31, 2023 calculation
Payables turnover = Cost of revenue ÷ Payables
= $403,001K ÷ $36,683K
= 10.99
The payables turnover ratio for ANI Pharmaceuticals Inc has shown variations over the past five years. The ratio indicates how efficiently the company is managing its accounts payable.
In 2023, the payables turnover ratio was 4.95, which is slightly higher compared to the previous year's ratio of 4.74. This suggests that the company is taking slightly less time to pay its suppliers in 2023.
Comparing to 2021 and 2019, where the ratios were 4.38 and 4.32 respectively, the payables turnover has improved in 2023. This indicates that ANI Pharmaceuticals Inc has been more efficient in managing its accounts payable in the most recent year.
On the other hand, the payables turnover ratio was the highest in 2020 at 7.74, suggesting that the company took shorter time to pay its suppliers that year compared to the other years presented.
Overall, the trend in the payables turnover ratio for ANI Pharmaceuticals Inc shows some fluctuations, but it is important to consider other factors and ratios to get a holistic view of the company's financial management and efficiency in paying its suppliers.
Peer comparison
Dec 31, 2023