Grand Canyon Education Inc (LOPE)

Payables turnover

		Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	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
Cost of revenue (ttm)	US$ in thousands	267,137	263,323	259,705	257,855	254,454	253,075	254,030	251,938	250,000	187,875	183,249	178,186	174,755	230,414	225,088	221,168	216,113	211,644	206,339	200,749
Payables	US$ in thousands	26,721	28,081	22,466	29,827	17,676	23,696	22,842	21,801	20,006	18,829	18,139	29,638	24,306	40,667	22,452	17,224	16,583	15,337	19,901	19,222
Payables turnover		10.00	9.38	11.56	8.65	14.40	10.68	11.12	11.56	12.50	9.98	10.10	6.01	7.19	5.67	10.03	12.84	13.03	13.80	10.37	10.44

December 31, 2024 calculation

Payables turnover = Cost of revenue (ttm) ÷ Payables
= $267,137K ÷ $26,721K
= 10.00

The payables turnover ratio for Grand Canyon Education Inc fluctuated over the analyzed period, indicating variability in the company's ability to efficiently manage its accounts payable. The ratio ranged from a low of 5.67 to a high of 14.40, reflecting changes in how quickly the company paid its suppliers relative to the amount of purchases made on credit.

A higher payables turnover ratio suggests that the company is paying its suppliers more frequently, which could potentially indicate strong liquidity or efficient working capital management. Conversely, a lower ratio may imply a longer payment period, which could strain relationships with suppliers or signal possible liquidity issues.

Overall, the trend in Grand Canyon Education Inc's payables turnover suggests some level of inconsistency in managing its accounts payable. Further analysis would be needed to determine the factors driving these fluctuations and evaluate the impact on the company's financial health and operational efficiency.