MSA Safety (MSA)

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	1,352,115	1,340,105	1,302,614	1,263,421	1,223,165	1,204,395	1,193,946	1,178,778	1,158,356	1,043,981	928,733	822,548	752,731	735,053	757,112	773,010	765,369	756,357	746,838	743,742
Payables	US$ in thousands	111,872	108,554	107,046	106,225	112,532	104,972	111,861	108,407	106,780	92,634	89,086	90,706	86,854	79,774	96,513	89,062	89,120	69,773	73,264	75,524
Payables turnover		12.09	12.35	12.17	11.89	10.87	11.47	10.67	10.87	10.85	11.27	10.43	9.07	8.67	9.21	7.84	8.68	8.59	10.84	10.19	9.85

December 31, 2023 calculation

Payables turnover = Cost of revenue (ttm) ÷ Payables
= $1,352,115K ÷ $111,872K
= 12.09

Payables turnover measures how efficiently a company manages its accounts payable by evaluating how quickly it pays off its suppliers. MSA Safety Inc's payables turnover has shown consistency in the range of 7.32 to 8.51 over the past eight quarters. This indicates that the company is able to convert its accounts payable into cash relatively quickly, which is a positive sign of effective working capital management. Overall, MSA Safety Inc has maintained a stable and solid payables turnover ratio over the analyzed period, reflecting a healthy relationship with its suppliers and efficient payment practices.