Azenta Inc (AZTA)
Payables turnover
Sep 30, 2024 | Sep 30, 2023 | Sep 30, 2022 | Sep 30, 2021 | Sep 30, 2020 | ||
---|---|---|---|---|---|---|
Cost of revenue | US$ in thousands | 918,866 | 808,375 | 606,393 | 601,077 | 825,248 |
Payables | US$ in thousands | 44,433 | 35,796 | 38,654 | 42,360 | 25,689 |
Payables turnover | 20.68 | 22.58 | 15.69 | 14.19 | 32.12 |
September 30, 2024 calculation
Payables turnover = Cost of revenue ÷ Payables
= $918,866K ÷ $44,433K
= 20.68
The payables turnover ratio for Azenta Inc has fluctuated over the past five years. The ratio indicates how many times a company pays off its accounts payable during a specific period.
In 2024, the payables turnover ratio was 20.68, which means Azenta Inc paid off its accounts payable approximately 20.68 times during the year. This represents a decrease from the previous year's ratio of 22.58 in 2023. The decrease in the payables turnover ratio in 2024 may suggest a slower pace of paying off suppliers compared to the previous year.
Comparing the payables turnover ratio of 2024 with the ratios of prior years, we see a notable increase from 2021's ratio of 14.19 and a substantial decrease from the exceptionally high ratio of 32.12 in 2020. This suggests a significant improvement in managing accounts payable from 2021 to 2024, followed by a moderation in the pace of payments in 2024.
Overall, the payables turnover ratio provides insight into how efficiently Azenta Inc is managing its accounts payable over the years, with fluctuations indicating changes in the company's payment practices and relationships with suppliers.
Peer comparison
Sep 30, 2024