CONMED Corporation (CNMD)

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	568,498	542,633	529,587	508,038	474,227	473,336	456,384	444,708	442,600	441,800	439,416	411,535	402,158	407,734	407,076	428,293	430,382	417,281	405,482	394,958
Payables	US$ in thousands	88,224	81,871	78,577	76,680	73,393	74,228	73,972	67,458	58,197	46,596	55,665	55,780	53,310	57,197	39,831	57,379	55,968	45,852	51,139	54,491
Payables turnover		6.44	6.63	6.74	6.63	6.46	6.38	6.17	6.59	7.61	9.48	7.89	7.38	7.54	7.13	10.22	7.46	7.69	9.10	7.93	7.25

December 31, 2023 calculation

Payables turnover = Cost of revenue (ttm) ÷ Payables
= $568,498K ÷ $88,224K
= 6.44

Conmed Corp.'s payables turnover has been relatively stable over the past 8 quarters, ranging between 6.17 and 6.74. The payables turnover ratio represents how efficiently the company is managing its accounts payables by paying its suppliers. A higher ratio indicates that the company is paying its suppliers more frequently within a given period.

Conmed Corp.'s average payables turnover ratio over the last 8 quarters is approximately 6.52, suggesting that the company takes around 56 days (365 days divided by 6.52) to pay its suppliers on average.

The consistency in the payables turnover ratio indicates that Conmed Corp. has been able to maintain a steady relationship with its suppliers in terms of payment frequency. An increasing trend in the ratio could suggest that the company is managing its payables more efficiently or negotiating better credit terms with suppliers. Conversely, a decreasing trend may indicate potential cash flow issues or delays in paying suppliers.

Overall, a stable payables turnover ratio for Conmed Corp. indicates efficient management of accounts payables and a healthy relationship with suppliers.