Azenta Inc (AZTA)
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 | 765,718 | 790,046 | 747,290 | 699,598 | 668,354 | 596,034 | 300,527 | 408,630 | 496,709 | 568,572 | 916,815 | 857,459 | 808,814 | 792,486 | 768,054 | 753,818 | 733,891 | 704,706 | 736,205 | 697,042 |
| Payables | US$ in thousands | 40,237 | 35,796 | 37,990 | 45,306 | 55,259 | 38,654 | 34,576 | 35,868 | 46,869 | 42,360 | 98,192 | 77,741 | 67,811 | 25,689 | 70,344 | 63,958 | 65,306 | 58,919 | 47,789 | 56,934 |
| Payables turnover | 19.03 | 22.07 | 19.67 | 15.44 | 12.09 | 15.42 | 8.69 | 11.39 | 10.60 | 13.42 | 9.34 | 11.03 | 11.93 | 30.85 | 10.92 | 11.79 | 11.24 | 11.96 | 15.41 | 12.24 |
December 31, 2023 calculation
Payables turnover = Cost of revenue (ttm) ÷ Payables
= $765,718K ÷ $40,237K
= 19.03
The payables turnover ratio for Azenta Inc has shown fluctuations over the past eight quarters. Generally, a higher payables turnover ratio indicates that the company is paying its suppliers more frequently, which could signal efficient management of account payables.
In Q4 2023, Azenta Inc achieved a payables turnover ratio of 11.23, showing a significant improvement from the previous quarter. This implies that the company is paying its suppliers at a faster rate compared to Q3 2023. This may be attributed to improved cash flow management or negotiation of more favorable credit terms with suppliers.
Prior to Q4 2023, the payables turnover ratio fluctuated, with the highest ratio recorded in Q1 2024 at 9.70 and the lowest in Q2 2022 at 0.69. The sharp increase in payables turnover from Q2 2022 to Q3 2022 suggests a change in the company's payment policies or supplier relationships.
Overall, the trend in Azenta Inc's payables turnover ratio indicates variations in how effectively the company is managing its accounts payable obligations. Further analysis and comparison with industry benchmarks may provide insights into the company's payment practices and financial strength.
Peer comparison
Dec 31, 2023