EPAM Systems Inc (EPAM)

Payables turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Cost of revenue	US$ in thousands	3,256,510	3,286,680	2,483,700	1,732,520	1,488,200
Payables	US$ in thousands	31,992	30,852	24,847	10,189	7,831
Payables turnover		101.79	106.53	99.96	170.04	190.04

December 31, 2023 calculation

Payables turnover = Cost of revenue ÷ Payables
= $3,256,510K ÷ $31,992K
= 101.79

EPAM Systems Inc's payables turnover has shown a decreasing trend over the past five years, with values declining from 190.04 in 2019 to 101.79 in 2023. This indicates that the company is taking longer to pay its suppliers or vendors in more recent years. A decreasing payables turnover ratio could imply a potential strain on liquidity or operational efficiency, as the company is holding onto its payables for a longer period. Further investigation into the company's payables management and payment policies may be necessary to understand the reasons behind this trend and its impact on the overall financial health of EPAM Systems Inc.