LeMaitre Vascular Inc (LMAT)

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	152,513	145,168	140,576	137,667	131,304	128,500	125,543	119,450	115,893	110,496	108,953	99,213	96,591	97,692	92,755	95,889	94,210	87,735	84,116	82,029
Payables	US$ in thousands	3,734	4,371	3,519	3,371	2,903	2,848	2,844	2,194	2,340	3,137	2,059	2,561	2,394	2,168	1,237	1,381	2,604	1,670	1,427	2,381
Payables turnover		40.84	33.21	39.95	40.84	45.23	45.12	44.14	54.44	49.53	35.22	52.92	38.74	40.35	45.06	74.98	69.43	36.18	52.54	58.95	34.45

December 31, 2023 calculation

Payables turnover = Cost of revenue (ttm) ÷ Payables
= $152,513K ÷ $3,734K
= 40.84

The payables turnover for Lemaitre Vascular Inc has shown some fluctuations over the past eight quarters. The ratio has ranged from a low of 15.03 in Q3 2023 to a high of 24.87 in Q1 2022. Generally, the company's payables turnover has remained relatively high, indicating that Lemaitre Vascular Inc is efficiently managing its accounts payable by paying off its suppliers quickly.

The overall trend for payables turnover appears to be relatively stable, with some minor variability from quarter to quarter. It is important to note that a high payables turnover ratio could suggest that the company is effectively utilizing its cash flow to settle its obligations promptly, which may be viewed positively by investors and creditors.

However, it's essential to consider industry norms and benchmark this ratio against competitors to gain a better understanding of Lemaitre Vascular Inc's performance in managing its payables effectively. Additionally, further analysis of the company's payment terms, supplier relationships, and cash management strategies could provide valuable insights into its financial health and operational efficiency.