Blackbaud Inc (BLKB)

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	967,697	995,455	1,000,296	994,234	984,512	953,168	911,816	869,451	824,846	696,837	607,716	526,480	428,065	425,026	428,138	424,006	418,424	405,183	398,623	392,988
Payables	US$ in thousands	25,184	39,357	40,730	46,528	42,559	36,374	36,640	39,490	22,067	38,388	30,605	35,274	27,836	31,775	41,029	44,510	47,676	34,169	35,749	32,640
Payables turnover		38.43	25.29	24.56	21.37	23.13	26.20	24.89	22.02	37.38	18.15	19.86	14.93	15.38	13.38	10.44	9.53	8.78	11.86	11.15	12.04

December 31, 2023 calculation

Payables turnover = Cost of revenue (ttm) ÷ Payables
= $967,697K ÷ $25,184K
= 38.43

The payables turnover ratio for Blackbaud Inc has shown fluctuations over the past eight quarters. In Q4 2023, the ratio reached a high of 19.94, indicating that the company's payables turnover increased significantly compared to the previous quarter. This might suggest that Blackbaud Inc is paying its suppliers more frequently or efficiently managing its accounts payable.

In Q3 2023, the payables turnover ratio decreased to 12.75 from the previous quarter, but remained relatively high compared to historical data. This indicates that the company's payables turnover slightly slowed down in this period.

Throughout the previous quarters, the payables turnover ratios have shown a consistent range between 10.86 and 13.58. This suggests that Blackbaud Inc has been able to maintain a relatively efficient payables turnover performance, with some fluctuations reflecting changes in the company's payment practices or relationships with suppliers.

Overall, the trend in Blackbaud Inc's payables turnover ratio indicates that the company is efficiently managing its accounts payable and working capital, which is essential for maintaining healthy cash flow and liquidity. Monitoring this ratio over time can provide valuable insights into the company's financial health and operational efficiency.