Mettler-Toledo International Inc (MTD)

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	1,547,023	1,589,214	1,607,481	1,615,633	1,611,667	1,616,228	1,611,168	1,591,889	1,546,377	1,495,212	1,436,831	1,342,087	1,284,146	1,250,875	1,231,936	1,251,061	1,267,441	1,262,128	1,258,910	1,256,453
Payables	US$ in thousands	210,411	173,970	170,230	176,733	252,538	226,681	267,523	259,352	272,911	219,294	210,811	189,289	175,801	146,646	155,901	168,515	185,592	148,220	160,584	174,639
Payables turnover		7.35	9.13	9.44	9.14	6.38	7.13	6.02	6.14	5.67	6.82	6.82	7.09	7.30	8.53	7.90	7.42	6.83	8.52	7.84	7.19

December 31, 2023 calculation

Payables turnover = Cost of revenue (ttm) ÷ Payables
= $1,547,023K ÷ $210,411K
= 7.35

Mettler-Toledo International, Inc.'s payables turnover has exhibited fluctuations over the past eight quarters. In Q4 2023, the payables turnover ratio decreased to 7.35 from the previous quarter's 9.13. This decrease suggests that the company took longer to pay its suppliers relative to the previous quarter. Despite the decrease, the payables turnover ratio in Q4 2023 remained higher than the ratios in Q4 2022 (6.38) and Q3 2022 (7.13).

Overall, the payables turnover ratio for Mettler-Toledo International, Inc. has shown a general upward trend since Q1 2022, indicating improved efficiency in managing its accounts payable. However, it is important to monitor future trends to assess the company's ability to effectively manage its payables and maintain strong supplier relationships.