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.