Blackbaud Inc (BLKB)

Payables turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Cost of revenue	US$ in thousands	1,020,470	1,032,120	863,744	428,065	418,424
Payables	US$ in thousands	25,184	42,559	22,067	27,836	47,676
Payables turnover		40.52	24.25	39.14	15.38	8.78

December 31, 2023 calculation

Payables turnover = Cost of revenue ÷ Payables
= $1,020,470K ÷ $25,184K
= 40.52

The payables turnover ratio for Blackbaud Inc has displayed fluctuations over the past five years. In 2023, the payables turnover ratio improved significantly to 19.94, indicating that the company efficiently managed its accounts payable during the year by paying off its suppliers more frequently. This suggests that the company may have negotiated more favorable credit terms with its suppliers or improved its cash flow management.

Comparing this to the previous years, there was a notable increase from 2022's ratio of 11.88, signifying a substantial enhancement in the company's payables management efficiency. However, in 2021, the payables turnover ratio was 20.08, which was slightly higher than 2023, suggesting that the company paid its liabilities more frequently than in the most recent year.

In 2020, the payables turnover ratio was 15.38, indicating that the company managed its accounts payable effectively but not as efficiently as in 2023. The lowest payables turnover ratio was observed in 2019 at 8.78, implying that the company took longer to settle its payables that year.

Overall, the trend in the payables turnover ratio for Blackbaud Inc reflects variations in the company's efficiency in managing its accounts payable and relationships with suppliers over the past five years.