Benchmark Electronics Inc (BHE)

Payables turnover

		Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Cost of revenue	US$ in thousands	2,386,080	2,567,910	2,631,100	2,049,420	1,878,080
Payables	US$ in thousands	354,218	367,480	424,272	426,555	282,208
Payables turnover		6.74	6.99	6.20	4.80	6.65

December 31, 2024 calculation

Payables turnover = Cost of revenue ÷ Payables
= $2,386,080K ÷ $354,218K
= 6.74

The payables turnover ratio for Benchmark Electronics Inc has shown fluctuations over the last five years. In December 2020, the payables turnover ratio was 6.65, indicating that the company paid off its accounts payable approximately 6.65 times during the year. However, this ratio decreased to 4.80 by December 2021, implying a lower rate of accounts payable turnover.

There was a slight improvement in the payables turnover ratio in December 2022, rising to 6.20, showing the company's ability to manage its accounts payable more efficiently compared to the previous year. By December 2023, the ratio further increased to 6.99, indicating an even better performance in managing its payables.

Lastly, as of December 2024, the payables turnover ratio stood at 6.74, which signifies that Benchmark Electronics Inc continued to effectively convert its accounts payable into cash during the year.

Overall, the payables turnover ratio for Benchmark Electronics Inc has exhibited variations over the five-year period but generally indicates that the company has been successful in efficiently managing its accounts payable and converting them into cash.