DoubleVerify Holdings Inc (DV)
Payables turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | ||
|---|---|---|---|---|
| Cost of revenue | US$ in thousands | 361,440 | 301,286 | 243,359 |
| Payables | US$ in thousands | 12,932 | 6,675 | 3,853 |
| Payables turnover | 27.95 | 45.14 | 63.16 |
December 31, 2023 calculation
Payables turnover = Cost of revenue ÷ Payables
= $361,440K ÷ $12,932K
= 27.95
DoubleVerify Holdings Inc's payables turnover has shown a decreasing trend over the past three years. The payables turnover ratio was 14.11 in 2021, which decreased to 11.67 in 2022, and further decreased to 8.25 in 2023. This indicates that the company is taking longer to pay its suppliers or that the company's purchases are decreasing relative to accounts payable. A lower payables turnover ratio may suggest inefficiencies in managing payables or potential liquidity issues within the company. It is important for the company to monitor and address this trend to ensure effective working capital management and maintain good relationships with suppliers.
Peer comparison
Dec 31, 2023