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