ANI Pharmaceuticals Inc (ANIP)

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	403,001	373,923	345,750	331,144	317,856	312,836	287,388	257,494	201,891	147,453	115,877	85,338	87,157	80,412	75,296	70,233	63,154	65,492	66,095	67,056
Payables	US$ in thousands	36,683	34,077	28,505	32,687	29,305	18,992	27,641	22,059	22,967	11,513	12,977	13,769	11,261	13,460	14,209	12,485	14,606	10,953	9,809	10,519
Payables turnover		10.99	10.97	12.13	10.13	10.85	16.47	10.40	11.67	8.79	12.81	8.93	6.20	7.74	5.97	5.30	5.63	4.32	5.98	6.74	6.37

December 31, 2023 calculation

Payables turnover = Cost of revenue (ttm) ÷ Payables
= $403,001K ÷ $36,683K
= 10.99

Based on the data provided, ANI Pharmaceuticals Inc's payables turnover ratio has been fluctuating over the past eight quarters. The payables turnover ratio measures how efficiently a company is able to manage its accounts payable by comparing the cost of goods sold to its average accounts payable balance.

In the most recent quarter Q4 2023, the payables turnover ratio was 4.95, showing that the company is able to turn over its accounts payable approximately 4.95 times during the period. This suggests that ANI Pharmaceuticals Inc is managing its accounts payable efficiently.

Looking at the trend over the past eight quarters, the payables turnover ratio has shown some variation. The ratio was relatively stable in Q3 2022, Q2 2022, and Q1 2022, ranging from 4.63 to 5.21. However, there was a significant increase in Q3 2022 with a ratio of 7.18, indicating that the company was able to turn over its payables at a faster rate during that period.

Overall, the payables turnover ratio for ANI Pharmaceuticals Inc has shown fluctuations but has generally been within a reasonable range over the past eight quarters. It is important for the company to continue monitoring and managing its accounts payable efficiently to support its financial health and operational performance.