Enovis Corp (ENOV)
Payables turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Cost of revenue | US$ in thousands | 1,817,200 | 1,768,880 | 3,868,350 | 3,168,900 | 3,368,320 |
| Payables | US$ in thousands | 132,475 | 135,628 | 155,208 | 330,251 | 359,782 |
| Payables turnover | 13.72 | 13.04 | 24.92 | 9.60 | 9.36 |
December 31, 2023 calculation
Payables turnover = Cost of revenue ÷ Payables
= $1,817,200K ÷ $132,475K
= 13.72
The payables turnover ratio for Enovis Corp has shown fluctuation over the past five years. In 2023, the payables turnover ratio was 5.41, indicating that the company paid its accounts payable approximately 5.41 times during the year. This represents an increase from the previous year's ratio of 5.11.
The increasing trend in the payables turnover ratio may imply that Enovis Corp is more efficiently managing its accounts payable and paying off its suppliers more frequently. This can be a positive sign of effective working capital management and strong cash flow management.
Overall, the payables turnover ratio for Enovis Corp has been relatively stable over the years, with the company consistently turning over its payables at a moderate frequency. Additional analysis and comparison with industry benchmarks could provide further insights into Enovis Corp's supplier payment practices and financial performance.
Peer comparison
Dec 31, 2023