AptarGroup Inc (ATR)

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	95,123	71,722	67,482	65,985	54,779	55,796	64,939	70,715	72,727	574,361	1,076,154	1,543,745	2,023,334	1,982,769	1,943,660	1,968,771	1,985,342	2,007,850	1,995,025	1,985,693
Payables	US$ in thousands	328,571	—	—	—	320,281	—	—	—	285,262	—	—	—	243,742	—	—	—	192,739	—	—	—
Payables turnover		0.29	—	—	—	0.17	—	—	—	0.25	—	—	—	8.30	—	—	—	10.30	—	—	—

December 31, 2023 calculation

Payables turnover = Cost of revenue (ttm) ÷ Payables
= $95,123K ÷ $328,571K
= 0.29

Based on the available data for Aptargroup Inc., the payables turnover ratio for the fourth quarter of 2023 was 6.77. This indicates that Aptargroup Inc. is able to manage and pay off its accounts payables approximately 6.77 times during this period.

It is noteworthy that the payables turnover ratio for the same quarter in 2022 was slightly lower at 6.74, showing a relatively consistent performance in managing payables from one year to the next. Unfortunately, data for the other quarters in 2023 and 2022 are not available for comparison, which limits a more comprehensive analysis of the trend in payables turnover over time.

In general, a higher payables turnover ratio suggests that the company is efficient in managing its payables and may indicate favorable liquidity and supplier relationships. However, it is always advisable to consider additional financial metrics and external factors to gain a more holistic understanding of Aptargroup Inc.'s financial performance and efficiency in managing its payables.