3D Systems Corporation (DDD)

Payables turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Cost of revenue	US$ in thousands	858,866	610,760	615,857	673,891	657,532
Payables	US$ in thousands	49,757	53,826	57,366	45,174	49,851
Payables turnover		17.26	11.35	10.74	14.92	13.19

December 31, 2023 calculation

Payables turnover = Cost of revenue ÷ Payables
= $858,866K ÷ $49,757K
= 17.26

The payables turnover ratio measures how efficiently a company is managing its trade payables by calculating how many times a company pays off its accounts payable balance during a specific period.

Analyzing 3D Systems Corporation's payables turnover ratio over the past five years, we see a fluctuating trend. The ratio has ranged from 10.74 to 17.26, indicating variations in the company's ability to manage its payable obligations over the years.

In 2023, 3D Systems Corporation's payables turnover ratio increased significantly to 17.26 from 11.35 in 2022. This suggests that the company was able to pay off its accounts payable balance approximately 17.26 times during 2023, reflecting a more efficient management of its trade payables compared to the previous year.

Comparing the 2023 ratio with historical data, we observe that the payables turnover ratio in 2023 was higher than both 2022 and 2021, indicating an improvement in the company's ability to manage its payables efficiently. However, it was lower than the ratio recorded in 2020.

Overall, based on the trend analysis of 3D Systems Corporation's payables turnover ratio, there is evidence of fluctuations in the company's ability to effectively manage its trade payables over the years, with 2023 showing a notable improvement in this aspect.