Corsair Gaming Inc (CRSR)
Payables turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|
| Cost of revenue | US$ in thousands | 1,099,610 | 1,078,470 | 1,390,210 | 1,236,940 |
| Payables | US$ in thousands | 239,957 | 172,033 | 236,120 | 299,636 |
| Payables turnover | 4.58 | 6.27 | 5.89 | 4.13 |
December 31, 2023 calculation
Payables turnover = Cost of revenue ÷ Payables
= $1,099,610K ÷ $239,957K
= 4.58
Corsair Gaming Inc's payables turnover has shown fluctuations over the past five years. The payables turnover ratio measures how many times a company pays off its accounts payable within a given period. A higher payables turnover ratio indicates that the company is managing its accounts payable more efficiently.
In 2023, Corsair Gaming Inc's payables turnover decreased to 4.58 from 6.27 in 2022. This suggests that the company took longer to pay its suppliers compared to the previous year. Despite the decrease, the payables turnover ratio of 4.58 is still relatively healthy.
Looking back at the trend, there was an improvement in payables turnover from 2020 to 2022. The ratio increased from 4.13 in 2020 to 6.27 in 2022, showing that the company was paying its accounts payable more frequently during this period.
On the other hand, there was a slight decline in payables turnover in 2021 to 5.89, but it remained above the 5.00 threshold. In 2019, the payables turnover was 4.80, indicating a similar performance to 2023.
Overall, while there have been fluctuations in Corsair Gaming Inc's payables turnover ratio over the past five years, the company generally manages its accounts payable efficiently, with the ratio staying above 4.00 in all years, showing that they are able to meet their obligations to suppliers in a timely manner.
Peer comparison
Dec 31, 2023