Cardinal Health Inc (CAH)
Payables turnover
| Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cost of revenue (ttm) | US$ in thousands | 214,410,000 | 214,511,000 | 214,784,000 | 217,060,000 | 219,680,000 | 213,248,000 | 208,922,000 | 203,129,000 | 198,123,000 | 191,995,000 | 186,447,000 | 180,482,000 | 174,819,000 | 170,432,000 | 164,741,000 | 160,665,000 | 155,689,000 | 149,677,000 | 149,486,000 | 147,742,000 |
| Payables | US$ in thousands | 34,713,000 | 32,812,000 | 31,298,000 | 30,365,000 | 31,759,000 | 32,089,000 | 34,259,000 | 31,540,000 | 29,934,000 | 29,601,000 | 30,083,000 | 28,362,000 | 27,128,000 | 24,821,000 | 24,759,000 | 23,408,000 | 23,700,000 | 22,641,000 | 23,235,000 | 21,688,000 |
| Payables turnover | 6.18 | 6.54 | 6.86 | 7.15 | 6.92 | 6.65 | 6.10 | 6.44 | 6.62 | 6.49 | 6.20 | 6.36 | 6.44 | 6.87 | 6.65 | 6.86 | 6.57 | 6.61 | 6.43 | 6.81 |
June 30, 2025 calculation
Payables turnover = Cost of revenue (ttm) ÷ Payables
= $214,410,000K ÷ $34,713,000K
= 6.18
The payables turnover ratio for Cardinal Health Inc., as indicated by the provided data, demonstrates a relatively stable trend over the recent periods, with fluctuations observed throughout the years. Starting from approximately 6.81 times as of September 30, 2020, the ratio experienced slight declines and increases over the subsequent quarters, reaching a low of 6.10 times during December 2023. Notably, there is a discernible upward trend observed from March 2024 onward, with the ratio increasing to 6.92 times by June 2024 before decreasing slightly to 7.15 times by September 2024. Subsequently, the ratio declines again to 6.86 times in December 2024 and moderates further to 6.54 times and 6.18 times in the following periods.
This relatively consistent level of payables turnover indicates a company that maintains a steady pace in settling its payables, generally revolving its accounts payable approximately 6 to 7 times annually. The slight upward movements in late 2024 suggest a period where the company may have been paying its suppliers more frequently within a shorter period, possibly reflecting improved payment terms or an effort to manage supplier relationships more aggressively. Conversely, the periods of decline could point to extended payment practices, increasing the days payable outstanding.
Overall, the observed fluctuations do not depict a significant shift in the company’s payables management but suggest a balanced approach to managing its trade payables, with some periods favoring quicker turnover and others indicating a tendency toward extended payment intervals. This stability over time reflects consistent liquidity management practices, with recent data indicating a slight trend towards more rapid payments in the latter periods.
Peer comparison
Jun 30, 2025