Bruker Corporation (BRKR)

Payables turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Cost of revenue	US$ in thousands	1,451,200	1,225,000	1,208,300	1,047,700	1,077,300
Payables	US$ in thousands	202,700	178,400	147,400	134,600	118,400
Payables turnover		7.16	6.87	8.20	7.78	9.10

December 31, 2023 calculation

Payables turnover = Cost of revenue ÷ Payables
= $1,451,200K ÷ $202,700K
= 7.16

The payables turnover ratio for Bruker Corp has been fluctuating over the past five years. In 2023, the payables turnover ratio was 7.16, which indicates that Bruker Corp paid off its accounts payable approximately 7.16 times during the year. This ratio decreased from the previous year, where it was 6.87.

Compared to 2021 and 2020, the payables turnover ratio in 2023 is lower, suggesting that Bruker Corp took longer to pay off its accounts payable in 2023. However, it is still higher than the ratio in 2019.

Overall, a higher payables turnover ratio typically indicates that a company is efficiently managing its accounts payable by paying them off quickly. However, a decreasing ratio may imply that the company is taking longer to pay its suppliers, which can have implications for liquidity and relationships with suppliers. Further analysis of the company's financial health and cash flow management is necessary to fully understand the implications of these fluctuations in the payables turnover ratio.