Fulgent Genetics Inc (FLGT)
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 | 184,757 | 194,198 | 208,915 | 221,699 | 252,067 | 259,484 | 243,390 | 219,183 | 215,533 | 205,171 | 187,966 | 159,825 | 89,807 | 41,669 | 19,293 | 15,196 | 14,107 | 13,242 | 11,969 | 10,893 |
| Payables | US$ in thousands | 15,360 | 15,772 | 20,607 | 22,080 | 23,093 | 14,481 | 37,109 | 23,699 | 20,494 | 24,868 | 14,743 | 17,440 | 26,488 | 18,674 | 3,636 | 2,855 | 1,581 | 2,150 | 1,175 | 1,456 |
| Payables turnover | 12.03 | 12.31 | 10.14 | 10.04 | 10.92 | 17.92 | 6.56 | 9.25 | 10.52 | 8.25 | 12.75 | 9.16 | 3.39 | 2.23 | 5.31 | 5.32 | 8.92 | 6.16 | 10.19 | 7.48 |
December 31, 2023 calculation
Payables turnover = Cost of revenue (ttm) ÷ Payables
= $184,757K ÷ $15,360K
= 12.03
Fulgent Genetics Inc's payables turnover has shown fluctuations over the past eight quarters. The payables turnover ratio measures how efficiently a company pays its suppliers. A higher ratio indicates that the company is managing its payables effectively.
In Q4 2023, the payables turnover ratio was 12.03, slightly lower than Q3 2023's 12.31. This indicates that Fulgent Genetics Inc took longer to pay its suppliers compared to the previous quarter but still maintained a relatively high turnover ratio.
Looking further back, we see a general upward trend in payables turnover from Q1 2022 to Q3 2023, reflecting improving efficiency in paying suppliers. Q4 2022 saw a peak at 10.92, which was sustained in the following quarters. However, the ratio dropped in Q2 2022 to 6.56, indicating a possible delay in paying suppliers.
Overall, Fulgent Genetics Inc's payables turnover has generally been on an upward trajectory, signaling better management of payables and potentially stronger supplier relationships. It is essential to monitor this metric consistently to ensure that the company continues to effectively manage its payables.
Peer comparison
Dec 31, 2023