Duolingo Inc (DUOL)
Payables turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | ||
|---|---|---|---|---|
| Cost of revenue | US$ in thousands | 142,105 | 99,431 | 69,186 |
| Payables | US$ in thousands | 2,447 | 1,177 | 7,818 |
| Payables turnover | 58.07 | 84.48 | 8.85 |
December 31, 2023 calculation
Payables turnover = Cost of revenue ÷ Payables
= $142,105K ÷ $2,447K
= 58.07
The payables turnover ratio for Duolingo Inc has fluctuated over the past three years. In 2021, the company had a payables turnover of 8.85, which means it took approximately 8.85 times during the year to pay off its accounts payable. This ratio improved significantly to 84.48 in 2022, indicating that the company was managing its accounts payable more efficiently, paying off its suppliers at a faster rate. However, in 2023, the payables turnover decreased to 58.07, but still remained at a relatively high level compared to 2021. Overall, the company's ability to manage its payables has shown improvement in recent years, which is a positive sign for its financial health and liquidity management.
Peer comparison
Dec 31, 2023