Cadence Design Systems Inc (CDNS)
Payables turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Cost of revenue | US$ in thousands | 1,017,830 | 916,313 | 818,048 | 744,293 | 685,479 |
| Payables | US$ in thousands | — | — | — | — | — |
| Payables turnover | — | — | — | — | — |
December 31, 2023 calculation
Payables turnover = Cost of revenue ÷ Payables
= $1,017,830K ÷ $—K
= —
The payables turnover ratio for Cadence Design Systems, Inc. as of December 31, 2023, is 4.77. This indicates that the company is able to pay off its accounts payable approximately 4.77 times during the year, suggesting efficient management of its trade payables. However, without data for previous years, it is challenging to assess the trend and year-over-year changes in the payables turnover ratio to provide a more in-depth analysis. It would be beneficial to compare this ratio with industry averages or competitors to gain further insights into the company's payables management efficiency.
Peer comparison
Dec 31, 2023