Envestnet Inc (ENV)

Payables turnover

		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	Mar 31, 2019
Cost of revenue (ttm)	US$ in thousands	1,483,938	1,271,640	1,223,545	1,211,442	1,203,748	1,196,674	1,181,189	1,111,789	1,049,448	404,225	357,352	311,134	303,794	303,522	300,395	316,708	191,094	613,354	464,152	307,241
Payables	US$ in thousands	35,738	16,594	27,853	9,605	11,271	19,447	20,444	18,854	19,092	21,763	20,423	24,567	18,003	29,609	16,132	14,294	17,277	13,231	15,165	25,135
Payables turnover		41.52	76.63	43.93	126.13	106.80	61.54	57.78	58.97	54.97	18.57	17.50	12.66	16.87	10.25	18.62	22.16	11.06	46.36	30.61	12.22

December 31, 2023 calculation

Payables turnover = Cost of revenue (ttm) ÷ Payables
= $1,483,938K ÷ $35,738K
= 41.52

The payables turnover ratio for Envestnet Inc. has varied over the past eight quarters. In Q4 2023, the payables turnover ratio was 13.24, indicating that the company paid off its accounts payable approximately 13.24 times during that quarter. This was a decrease compared to the previous quarter's ratio of 27.64.

The significant decrease in the payables turnover ratio from Q3 2023 to Q4 2023 could suggest that the company took longer to pay off its accounts payable in the most recent quarter. A lower payables turnover ratio may indicate that Envestnet Inc. is taking longer to settle its outstanding bills with suppliers and vendors, which could potentially strain its relationships with these stakeholders.

It is worth noting that the payables turnover ratio can be influenced by various factors, including payment terms negotiated with suppliers, changes in the company's purchasing patterns, and overall business operations. Therefore, further analysis and comparison with industry benchmarks are recommended to gain a deeper understanding of Envestnet Inc.'s payables management efficiency.