DocuSign Inc (DOCU)

Payables turnover

		Jan 31, 2025	Oct 31, 2024	Jul 31, 2024	Apr 30, 2024	Jan 31, 2024	Oct 31, 2023	Jul 31, 2023	Apr 30, 2023	Jan 31, 2023	Oct 31, 2022	Jul 31, 2022	Apr 30, 2022	Jan 31, 2022	Oct 31, 2021	Jul 31, 2021	Apr 30, 2021	Jan 31, 2021	Oct 31, 2020	Jul 31, 2020	Apr 30, 2020
Cost of revenue (ttm)	US$ in thousands	2,208,353	2,211,457	2,203,881	2,212,161	2,210,144	2,194,498	2,207,425	2,199,052	2,144,068	2,114,577	2,003,835	1,910,797	1,816,034	1,666,896	1,586,166	1,492,231	1,380,198	1,273,565	1,157,123	1,064,591
Payables	US$ in thousands	30,697	18,144	8,116	17,700	19,029	14,787	5,803	14,688	24,393	47,176	44,449	26,213	52,804	47,712	33,612	14,870	37,367	32,309	33,053	21,504
Payables turnover		71.94	121.88	271.55	124.98	116.15	148.41	380.39	149.72	87.90	44.82	45.08	72.90	34.39	34.94	47.19	100.35	36.94	39.42	35.01	49.51

January 31, 2025 calculation

Payables turnover = Cost of revenue (ttm) ÷ Payables
= $2,208,353K ÷ $30,697K
= 71.94

DocuSign Inc's payables turnover ratio measures how efficiently the company is managing its accounts payable. A higher turnover ratio indicates that the company is paying off its suppliers relatively quickly.

Looking at the historical data provided, the payables turnover ratio for DocuSign Inc has fluctuated over the periods. From April 30, 2020, to January 31, 2023, the turnover ratio varied within a range, showing some level of stability. However, there was a significant increase in the ratio from January 31, 2023, to July 31, 2023, reflecting a notable improvement in the company's ability to pay off its payables more frequently.

Subsequently, the payables turnover decreased, but remained relatively high until July 31, 2024, suggesting that DocuSign Inc continued to manage its accounts payable efficiently during this period. However, from July 31, 2024, to January 31, 2025, there was a noticeable decline in the payables turnover ratio, indicating a potential shift in the company's payables management strategy.

Overall, the payables turnover ratio for DocuSign Inc has shown fluctuations but has generally been at levels that indicate effective management of accounts payable, with occasional periods of significant improvement or decline.