Harmony Biosciences Holdings (HRMY)

Payables turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Cost of revenue	US$ in thousands	337,774	269,749	205,969	133,151
Payables	US$ in thousands	17,730	3,786	1,001	2,556
Payables turnover		19.05	71.25	205.76	52.09

December 31, 2023 calculation

Payables turnover = Cost of revenue ÷ Payables
= $337,774K ÷ $17,730K
= 19.05

The payables turnover ratio for Harmony Biosciences Holdings Inc has exhibited varying trends over the past four years. In particular:

1. Dec 31, 2023: The payables turnover ratio was 6.84, indicating that the company's payables turnover decreased compared to the previous year.

2. Dec 31, 2022: The payables turnover ratio significantly increased to 22.05, suggesting that the company's ability to efficiently manage its payables improved substantially from the prior year.

3. Dec 31, 2021: The payables turnover ratio was notably high at 55.46, signifying a very efficient management of payables during that period.

4. Dec 31, 2020: The payables turnover ratio dropped to 10.85 compared to the previous year, showing a decrease in the efficiency of payables management.

Overall, the payables turnover ratio for Harmony Biosciences Holdings Inc has shown volatility, with significant fluctuations in the efficiency of managing payables over the four-year period.