3D Systems Corporation (DDD)

Payables turnover

		Mar 31, 2024	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
Cost of revenue (ttm)	US$ in thousands	828,620	843,219	555,290	585,698	598,247	600,412	595,804	605,038	606,275	604,073	559,843	587,870	563,496	568,359	631,378	594,719	622,977	641,214	657,105	665,490
Payables	US$ in thousands	40,407	49,757	46,108	59,023	51,415	53,826	53,419	62,226	57,347	57,366	44,946	47,979	44,945	45,174	41,674	52,172	55,862	49,851	53,014	59,197
Payables turnover		20.51	16.95	12.04	9.92	11.64	11.15	11.15	9.72	10.57	10.53	12.46	12.25	12.54	12.58	15.15	11.40	11.15	12.86	12.39	11.24

March 31, 2024 calculation

Payables turnover = Cost of revenue (ttm) ÷ Payables
= $828,620K ÷ $40,407K
= 20.51

The payables turnover ratio for 3D Systems Corporation has shown fluctuations over the past few quarters. The company's ability to efficiently manage its accounts payable has varied, with a noticeable increase in the payables turnover ratio in recent periods. Specifically, the payables turnover ratio has steadily improved from 9.72 in June 2022 to 20.51 in March 2024.

A higher payables turnover ratio indicates that the company is paying its suppliers more frequently within a given period. This could suggest that 3D Systems Corporation is managing its cash flow effectively by paying off its payables in a timely manner.

It is essential to monitor the payables turnover ratio over time to assess the company's liquidity, operational efficiency, and supplier relationships. Additionally, analyzing trends in payables turnover can provide insights into the company's working capital management and overall financial health.