Exelixis Inc (EXEL)

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	615,252	597,229	570,599	547,411	517,765	494,822	477,966	455,105	454,588	433,836	391,634	368,225	295,000	272,070	288,312	252,481	253,564	244,747	164,635	156,765
Payables	US$ in thousands	33,768	26,450	25,994	32,621	32,667	30,572	19,978	17,285	24,258	24,314	20,450	13,821	23,632	47,927	9,103	15,321	11,581	8,352	12,274	9,748
Payables turnover		18.22	22.58	21.95	16.78	15.85	16.19	23.92	26.33	18.74	17.84	19.15	26.64	12.48	5.68	31.67	16.48	21.89	29.30	13.41	16.08

December 31, 2023 calculation

Payables turnover = Cost of revenue (ttm) ÷ Payables
= $615,252K ÷ $33,768K
= 18.22

Exelixis Inc's payables turnover ratio has shown fluctuations over the past few periods. The ratio was highest at 31.67 in June 2020 and lowest at 5.68 in September 2020. Generally, a higher payables turnover ratio implies that the company is able to pay off its suppliers more quickly. The trend shows improvement in payables turnover from 2019 to 2020, followed by some volatility in 2021 and 2022. In the latest period of December 2023, the payables turnover ratio stands at 18.22, indicating that the company is managing its accounts payable effectively, albeit slightly lower than previous periods. Monitoring this ratio can provide insights into the company's liquidity and efficiency in managing its trade credit obligations.