ExlService Holdings Inc (EXLS)

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	1,391,913	1,355,829	1,316,328	1,275,844	1,219,882	1,155,605	1,092,252	1,031,785	966,412	717,781	676,506	649,879	648,522	647,228	669,097	682,503	685,485	688,520	671,489	638,498
Payables	US$ in thousands	5,055	3,159	3,019	3,384	7,789	3,487	4,377	4,796	5,647	2,881	3,877	8,304	6,992	6,213	9,048	8,048	6,564	3,658	3,269	4,560
Payables turnover		275.35	429.20	436.01	377.02	156.62	331.40	249.54	215.13	171.14	249.14	174.49	78.26	92.75	104.17	73.95	84.80	104.43	188.22	205.41	140.02

December 31, 2023 calculation

Payables turnover = Cost of revenue (ttm) ÷ Payables
= $1,391,913K ÷ $5,055K
= 275.35

ExlService Holdings Inc's payables turnover has shown fluctuations over the past eight quarters. In Q3 2023, the company had a high payables turnover of 315.95, indicating that it was able to efficiently use its accounts payable to generate revenue. This strong performance was followed by a slight decrease in Q4 2023 to 202.35, which is still relatively high compared to the previous quarters.

Overall, the upward trend in payables turnover from Q1 2022 to Q3 2023 suggests that ExlService Holdings Inc has been managing its accounts payable effectively. A higher payables turnover ratio signifies that the company is paying off its suppliers quickly, which can improve relationships and potentially lead to better credit terms in the future.

It is important for stakeholders to monitor future changes in ExlService Holdings Inc's payables turnover to assess the company's efficiency in managing its accounts payable and its overall financial health.