Integer Holdings Corp (ITGR)

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 1,051,727 1,387,452 1,338,023 1,295,163 1,238,881 1,183,638 1,145,418 1,103,354 1,074,237 1,037,766 959,701 916,821 942,859 715,848 776,849 812,302 804,553 1,040,444 1,044,678 1,046,267
Payables US$ in thousands 120,293 108,351 107,507 124,280 110,780 101,152 103,111 90,018 76,859 68,418 69,303 62,395 51,570 55,397 54,000 79,138 64,975 77,383 73,120 72,172
Payables turnover 8.74 12.81 12.45 10.42 11.18 11.70 11.11 12.26 13.98 15.17 13.85 14.69 18.28 12.92 14.39 10.26 12.38 13.45 14.29 14.50

December 31, 2023 calculation

Payables turnover = Cost of revenue (ttm) ÷ Payables
= $1,051,727K ÷ $120,293K
= 8.74

Based on the data provided, Integer Holdings Corp's payables turnover ratio has shown some fluctuations over the past eight quarters. The payables turnover ratio measures how efficiently the company is managing its accounts payable by comparing the cost of goods sold to its average accounts payable balance.

In the most recent quarter of Q4 2023, the payables turnover ratio was 9.80, indicating that the company paid its suppliers approximately 9.80 times during the quarter. This was a decrease from the previous quarter's ratio of 10.61 in Q3 2023.

Looking further back, there have been fluctuations in the payables turnover ratio over the past eight quarters, ranging from a low of 8.61 in Q1 2023 to a high of 10.61 in Q3 2023. Generally, a higher payables turnover ratio indicates that the company is paying its suppliers more frequently, which could be seen as a positive sign of efficiency in managing its accounts payable.

It is important to note that changes in the payables turnover ratio can be influenced by various factors such as changes in payment terms with suppliers, changes in the company's purchasing patterns, or shifts in the industry or economic conditions.

Overall, Integer Holdings Corp's payables turnover ratio has shown some variability over the quarters, and further analysis would be needed to understand the reasons behind these fluctuations and to assess the company's overall efficiency in managing its payables.


Peer comparison

Dec 31, 2023

Company name
Symbol
Payables turnover
Integer Holdings Corp
ITGR
8.74
Edgewell Personal Care Co
EPC
6.70
Energizer Holdings Inc
ENR
6.47
Novanta Inc
NOVT
12.04