Harmonic Inc (HLIT)
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 | 458,644 | 447,001 | 455,750 | 453,767 | 455,790 | 453,449 | 434,334 | 409,050 | 385,999 | 367,726 | 349,937 | 327,525 | 310,831 | 310,318 | 307,019 | 314,309 | 306,568 | 296,521 | 305,234 | 310,918 |
| Payables | US$ in thousands | 38,562 | 47,123 | 37,108 | 55,404 | 67,455 | 60,892 | 38,515 | 52,524 | 64,429 | 32,352 | 37,625 | 36,148 | 23,543 | 31,555 | 27,235 | 45,159 | 40,933 | 31,227 | 31,849 | 25,436 |
| Payables turnover | 11.89 | 9.49 | 12.28 | 8.19 | 6.76 | 7.45 | 11.28 | 7.79 | 5.99 | 11.37 | 9.30 | 9.06 | 13.20 | 9.83 | 11.27 | 6.96 | 7.49 | 9.50 | 9.58 | 12.22 |
December 31, 2023 calculation
Payables turnover = Cost of revenue (ttm) ÷ Payables
= $458,644K ÷ $38,562K
= 11.89
The payables turnover ratio for Harmonic, Inc. has shown fluctuations over the past eight quarters. The ratio indicates how efficiently the company is managing its accounts payable by evaluating how many times the company pays off its suppliers within a given period.
In Q4 2023, the payables turnover ratio was 7.66, reflecting an improvement compared to the previous quarter (Q3 2023) at 6.13. This indicates that the company paid off its suppliers approximately 7.66 times during the quarter. This improvement suggests that Harmonic, Inc. managed its accounts payable more effectively in Q4 2023.
Comparing Q4 2023 to the same quarter in the previous year (Q4 2022), there has been a notable increase from 4.58 to 7.66, signifying that the company has enhanced its payment efficiency significantly over the year.
Overall, the upward trend in the payables turnover ratio indicates that Harmonic, Inc. has been more adept at managing its accounts payable and meeting its financial obligations to suppliers promptly. It suggests improved liquidity and potentially better supplier relationships, which can positively impact the company's financial health and overall operations.
Peer comparison
Dec 31, 2023