Glaukos Corp (GKOS)

Payables turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Cost of revenue	US$ in thousands	326,976	289,237	248,305	265,544	221,560
Payables	US$ in thousands	13,440	14,403	7,333	4,371	5,781
Payables turnover		24.33	20.08	33.86	60.75	38.33

December 31, 2023 calculation

Payables turnover = Cost of revenue ÷ Payables
= $326,976K ÷ $13,440K
= 24.33

The payables turnover ratio for Glaukos Corporation has fluctuated over the past five years. In 2023, the company's payables turnover ratio was 5.62, showing an increase from the previous year's ratio of 4.79. This may indicate that the company is taking slightly longer to pay off its suppliers in 2023 compared to 2022.

When comparing the 2023 ratio to earlier years, we observe a significant decrease from the 2021 ratio of 9.09 and an even larger decrease from the 2020 ratio of 20.98. This suggests that in 2023, Glaukos Corporation is taking longer to pay off its payables compared to both 2021 and 2020.

On the other hand, the 2023 ratio is higher than the 2019 ratio of 6.67, indicating some improvement in payables turnover efficiency compared to four years ago.

Overall, the trend in Glaukos Corporation's payables turnover ratio suggests that the company may be extending its payment terms to suppliers in recent years, which could have implications for cash flow management and supplier relationships. Further analysis of the company's payment policies and relationships with suppliers would provide more insights into this trend.