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