Merit Medical Systems Inc (MMSI)

Payables turnover

Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Cost of revenue US$ in thousands 1,182,870 1,103,830 1,025,110 986,060 962,781
Payables US$ in thousands 68,502 65,944 68,504 55,624 49,837
Payables turnover 17.27 16.74 14.96 17.73 19.32

December 31, 2024 calculation

Payables turnover = Cost of revenue ÷ Payables
= $1,182,870K ÷ $68,502K
= 17.27

The payables turnover for Merit Medical Systems Inc has shown a declining trend from 2020 to 2022, with values of 19.32, 17.73, and 14.96, respectively. This indicates that the company took longer to pay its suppliers during these years. However, there was a slight improvement in 2023 and 2024, with payables turnover ratios of 16.74 and 17.27, suggesting the company was able to manage its payables more efficiently during these periods. Overall, the company's ability to efficiently manage its accounts payable improved in the later years of the period under consideration.