Glaukos Corp (GKOS)

Payables turnover

		Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Cost of revenue	US$ in thousands	382,279	326,976	289,237	248,305	265,544
Payables	US$ in thousands	13,026	13,440	14,403	7,333	4,371
Payables turnover		29.35	24.33	20.08	33.86	60.75

December 31, 2024 calculation

Payables turnover = Cost of revenue ÷ Payables
= $382,279K ÷ $13,026K
= 29.35

The payables turnover ratio for Glaukos Corp has shown a general decreasing trend over the past five years. In 2020, the payables turnover ratio was 60.75, indicating that Glaukos was able to pay off its accounts payable balances 60.75 times during that year. However, this ratio declined significantly to 33.86 in 2021, suggesting a slowdown in the company's ability to manage its accounts payable efficiently.

Further decline was seen in 2022, with the payables turnover ratio dropping to 20.08. This could indicate that Glaukos took longer to pay off its suppliers compared to the previous year, potentially leading to strained relationships with vendors.

There was a slight improvement in 2023 as the payables turnover ratio increased to 24.33, signaling better management of accounts payable compared to the previous year. In 2024, the payables turnover ratio further improved to 29.35, indicating that Glaukos was able to enhance its efficiency in paying off its accounts payable.

Overall, the fluctuating trend in the payables turnover ratio for Glaukos Corp suggests varying levels of effectiveness in managing its accounts payable over the past five years. Further analysis and context regarding the company's payment policies and vendor relationships would provide greater insight into the implications of these fluctuations.