Corcept Therapeutics Incorporated (CORT)

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	191,206	185,515	175,110	169,384	158,233	148,069	143,375	135,659	127,637	120,948	116,879	112,272	110,908	112,525	110,482	109,644	105,860	100,432	97,352	92,519
Payables	US$ in thousands	17,396	16,710	7,976	11,216	11,976	8,178	8,246	9,269	6,908	6,558	9,216	6,969	10,554	6,510	6,304	4,976	7,537	5,937	7,026	9,330
Payables turnover		10.99	11.10	21.95	15.10	13.21	18.11	17.39	14.64	18.48	18.44	12.68	16.11	10.51	17.28	17.53	22.03	14.05	16.92	13.86	9.92

December 31, 2023 calculation

Payables turnover = Cost of revenue (ttm) ÷ Payables
= $191,206K ÷ $17,396K
= 10.99

Corcept Therapeutics Inc's payables turnover ratio has fluctuated over the past eight quarters. The company's payables turnover ratio was relatively low in Q4 2023 at 0.37, indicating that the company takes approximately 0.37 times to pay its suppliers during the quarter. This may suggest that the company is taking longer to settle its payables, which could potentially strain relationships with suppliers if not managed effectively.

In contrast, the payables turnover ratio was slightly higher in Q3 2023 at 0.36, indicating a marginal improvement in payment efficiency compared to the previous quarter. However, the ratio dropped significantly in Q2 2023 to 0.72, suggesting that the company was able to pay its suppliers more frequently during that quarter.

Overall, Corcept Therapeutics Inc's payables turnover ratio has shown variability in recent quarters, and it is crucial for the company to closely monitor and manage its accounts payable to maintain healthy relationships with suppliers and optimize cash flow management.