Matthews International Corporation (MATW)
Payables turnover
| 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 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cost of revenue (ttm) | US$ in thousands | 1,266,030 | 1,266,024 | 1,303,631 | 1,310,547 | 1,303,224 | 1,285,740 | 1,252,991 | 1,243,493 | 1,240,125 | 1,229,029 | 1,219,297 | 1,174,981 | 1,129,198 | 1,091,239 | 1,038,586 | 1,012,479 | 1,000,537 | 987,531 | 991,178 | 996,261 |
| Payables | US$ in thousands | 108,362 | 113,636 | 107,147 | 97,340 | 114,316 | 111,723 | 117,911 | 101,279 | 121,359 | 103,641 | 114,984 | 112,016 | 112,722 | 101,591 | 89,321 | 73,797 | 82,921 | 75,654 | 89,650 | 62,786 |
| Payables turnover | 11.68 | 11.14 | 12.17 | 13.46 | 11.40 | 11.51 | 10.63 | 12.28 | 10.22 | 11.86 | 10.60 | 10.49 | 10.02 | 10.74 | 11.63 | 13.72 | 12.07 | 13.05 | 11.06 | 15.87 |
September 30, 2024 calculation
Payables turnover = Cost of revenue (ttm) ÷ Payables
= $1,266,030K ÷ $108,362K
= 11.68
Matthews International Corporation's payables turnover has been fluctuating over the past few quarters. The trend shows some variability with values ranging from 10.02 to 15.87, indicating changes in the efficiency of paying off its accounts payable. Generally, a higher payables turnover ratio suggests that the company is paying its suppliers more frequently, which can be a positive indicator of effective management of payables. On the other hand, a lower ratio may indicate that the company is taking a longer time to pay its bills.
In the most recent period, the payables turnover stood at 11.68, which is higher compared to some previous quarters but lower compared to the highest values recorded. It indicates that Matthews International Corporation is currently managing its accounts payable moderately well but could potentially improve its efficiency further. It would be beneficial for the company to analyze the reasons behind the fluctuations in the payables turnover ratio and implement strategies to maintain a consistent and optimal level of payables turnover.