Cytek Biosciences Inc (CTKB)

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
Cost of revenue (ttm)	US$ in thousands	83,588	77,365	70,158	64,225	63,062	59,850	59,334	54,399
Payables	US$ in thousands	3,032	4,711	3,082	5,280	4,805	5,640	6,749	5,971
Payables turnover		27.57	16.42	22.76	12.16	13.12	10.61	8.79	9.11

December 31, 2023 calculation

Payables turnover = Cost of revenue (ttm) ÷ Payables
= $83,588K ÷ $3,032K
= 27.57

The payables turnover ratio for Cytek Biosciences Inc has shown fluctuations over the past few quarters. The ratio indicates how efficiently the company is managing its accounts payable by comparing the amount owed to suppliers with the purchases made on credit.

In December 2023, the payables turnover ratio was 27.57, which is significantly higher compared to previous quarters. This suggests that Cytek Biosciences Inc is paying off its suppliers at a faster rate in relation to its purchases, indicating strong liquidity management.

In September 2023, the ratio was 16.42, showing a decrease from the previous quarter. However, it is still relatively high, indicating efficient management of accounts payable.

The payables turnover ratio further fluctuated in June 2023 and March 2023, with values of 22.76 and 12.16 respectively. While the ratio in June 2023 was relatively high, suggesting efficient payables management, the decrease in March 2023 may indicate a slower payment cycle.

Comparing these figures to earlier quarters, there has been a noticeable improvement in payables turnover, with ratios steadily increasing from 9.11 in March 2022 to 27.57 in December 2023.

Overall, the trend in Cytek Biosciences Inc payables turnover ratio indicates a positive direction in terms of managing accounts payable efficiently and timely, which is beneficial for the company's cash flow management and relationships with suppliers.