CommVault Systems Inc (CVLT)

Payables turnover

		Mar 31, 2025	Mar 31, 2024	Mar 31, 2023	Mar 31, 2022	Mar 31, 2021
Cost of revenue	US$ in thousands	179,035	151,610	135,402	113,859	109,373
Payables	US$ in thousands	373	299	108	432	374
Payables turnover		479.99	507.06	1,253.72	263.56	292.44

March 31, 2025 calculation

Payables turnover = Cost of revenue ÷ Payables
= $179,035K ÷ $373K
= 479.99

Based on the data provided, we can observe the trend in CommVault Systems Inc's payables turnover over the five-year period from March 31, 2021, to March 31, 2025. The payables turnover ratio essentially reflects how efficiently the company is managing its accounts payable.

- In March 31, 2021, the payables turnover stood at 292.44, indicating that the company was able to convert its accounts payable into purchases or cash nearly 292 times during that fiscal year.
- The ratio slightly decreased to 263.56 by March 31, 2022, suggesting a slight decline in the efficiency of payables management.
- However, there was a significant surge in payables turnover to 1,253.72 by March 31, 2023, indicating a substantial improvement in managing accounts payable during that year.
- The ratio decreased in the subsequent years, with values of 507.06 on March 31, 2024, and 479.99 on March 31, 2025, but still remained at relatively high levels compared to the initial years of analysis.

Overall, the trend shows fluctuations in payables turnover over the period, with significant variations in efficiency across the years. It is important to further analyze the underlying reasons for these fluctuations to assess the effectiveness of CommVault Systems Inc's accounts payable management strategy.