Coherent Inc (COHR)
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 | 2,784,192 | 3,666,613 | 3,538,746 | 3,393,746 | 3,251,743 | 3,231,008 | 3,208,724 | 3,386,821 | 3,541,817 | 3,241,061 | 2,927,074 | 2,463,629 | 2,041,554 | 1,981,003 | 1,968,194 | 1,946,405 | 1,909,004 | 1,852,778 | 1,740,644 | 1,784,772 |
| Payables | US$ in thousands | 847,000 | 777,331 | 689,892 | 689,672 | 631,548 | 593,504 | 504,052 | 449,134 | 405,308 | 428,860 | 428,959 | 479,385 | 434,917 | 361,533 | 339,985 | 295,003 | 294,486 | 277,616 | 250,740 | 256,029 |
| Payables turnover | 3.29 | 4.72 | 5.13 | 4.92 | 5.15 | 5.44 | 6.37 | 7.54 | 8.74 | 7.56 | 6.82 | 5.14 | 4.69 | 5.48 | 5.79 | 6.60 | 6.48 | 6.67 | 6.94 | 6.97 |
June 30, 2025 calculation
Payables turnover = Cost of revenue (ttm) ÷ Payables
= $2,784,192K ÷ $847,000K
= 3.29
The payables turnover ratio for Coherent Inc. exhibits notable fluctuations over the analyzed period from September 2020 to June 2025. Initially, the ratio remained relatively stable during late 2020 and early 2021, hovering around 6.94 to 6.97 times. Throughout 2021, there was a slight decline, reaching a low of 5.79 in December, indicating that the company was settling its trade payables less frequently relative to its cost of goods sold or purchases.
The trend continued into 2022, with the ratio decreasing further, reaching its nadir at 4.69 in June 2022, which could suggest a lengthening of the payment period with suppliers, possibly due to strategic payment terms, liquidity considerations, or changes in supplier agreements. However, the ratio increased notably toward the end of 2022 and into early 2023, peaking at 8.74 in June 2023. This rise indicates more frequent settlement of payables relative to purchases, potentially reflecting improved liquidity, negotiation of more favorable credit terms, or a strategic effort to reduce payables.
After the peak in mid-2023, the ratio declined again, falling to approximately 4.72 by March 2025 with a low of 3.29 projected in June 2025. The downward trend suggests a lengthening of the average payment period, which could be indicative of liquidity management decisions, supply chain considerations, or changes in operational strategy.
Overall, the payables turnover ratio for Coherent Inc. has demonstrated periods of both contraction and expansion, reflecting dynamic management of trade payables in response to internal financial strategy and external market conditions. The recent decreasing trend toward lower turnover ratios may warrant further examination into the company's liquidity position and payment policy.
Peer comparison
Jun 30, 2025