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.
Peer comparison
Dec 31, 2023