Avnet Inc (AVT)
Payables turnover
| Jun 30, 2024 | Mar 31, 2024 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cost of revenue (ttm) | US$ in thousands | 20,990,690 | 21,807,180 | 22,525,630 | 22,960,320 | 23,354,740 | 23,211,170 | 23,183,510 | 22,402,270 | 21,345,310 | 20,334,080 | 19,007,330 | 18,012,070 | 17,294,050 | 16,396,890 | 15,839,410 | 15,691,680 | 15,570,870 | 15,972,020 | 16,255,770 | 16,665,530 |
| Payables | US$ in thousands | 3,345,510 | 3,324,040 | 3,308,060 | 3,445,710 | 3,373,820 | 3,136,860 | 3,106,670 | 3,466,620 | 3,431,680 | 2,968,840 | 2,693,700 | 2,467,740 | 2,401,360 | 2,001,740 | 1,935,660 | 2,005,130 | 1,754,080 | 1,733,670 | 1,802,480 | 2,025,520 |
| Payables turnover | 6.27 | 6.56 | 6.81 | 6.66 | 6.92 | 7.40 | 7.46 | 6.46 | 6.22 | 6.85 | 7.06 | 7.30 | 7.20 | 8.19 | 8.18 | 7.83 | 8.88 | 9.21 | 9.02 | 8.23 |
June 30, 2024 calculation
Payables turnover = Cost of revenue (ttm) ÷ Payables
= $20,990,690K ÷ $3,345,510K
= 6.27
Payables turnover measures how many times a company pays off its accounts payable during a specific period. A higher payables turnover ratio indicates that the company is efficiently managing its payables by paying them off quickly. Avnet Inc's payables turnover has fluctuated over the past several quarters, ranging from a low of 6.22 to a high of 9.21.
In the latest quarter ending June 30, 2024, the payables turnover ratio was 6.27, indicating that Avnet Inc paid off its accounts payable approximately 6.27 times during that period. This ratio has decreased compared to the previous quarter but remains in line with historical trends.
Overall, Avnet Inc's payables turnover has shown consistency over time, with minor fluctuations. It is essential to monitor this ratio to assess the company's ability to efficiently manage its payables and its liquidity position.
Peer comparison
Jun 30, 2024