Mesa Laboratories Inc (MLAB)

Payables turnover

		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	Sep 30, 2019	Jun 30, 2019
Cost of revenue (ttm)	US$ in thousands	82,937	82,979	84,430	85,737	85,387	62,997	67,544	57,881	51,478	64,706	52,156	50,031	46,923	49,134	52,467	51,842	52,390	47,783	41,979	42,317
Payables	US$ in thousands	6,041	4,554	4,810	5,588	6,134	6,288	7,738	7,557	7,897	7,827	4,463	4,045	4,473	3,751	1,852	2,812	3,408	3,780	2,339	3,130
Payables turnover		13.73	18.22	17.55	15.34	13.92	10.02	8.73	7.66	6.52	8.27	11.69	12.37	10.49	13.10	28.33	18.44	15.37	12.64	17.95	13.52

March 31, 2024 calculation

Payables turnover = Cost of revenue (ttm) ÷ Payables
= $82,937K ÷ $6,041K
= 13.73

The payables turnover ratio for Mesa Laboratories Inc has shown fluctuations over the periods presented in the table. A higher payables turnover ratio indicates that the company is efficiently managing its accounts payable by paying off its suppliers quicker.

Looking at the trend, the payables turnover ratio increased from 13.52 in June 2019 to a peak of 28.33 in September 2020, showing an improvement in the company's ability to pay its suppliers. However, the ratio decreased in subsequent periods, reaching 13.73 in March 2024.

Overall, Mesa Laboratories Inc's payables turnover ratio has been relatively high, indicating strong efficiency in managing its accounts payable. It is important for investors and analysts to monitor this ratio to assess the company's liquidity position and relationship with its suppliers over time.