Myriad Genetics Inc (MYGN)

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	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019
Cost of revenue (ttm)	US$ in thousands	654,800	678,200	733,300	741,500	922,000	824,000	674,700	578,700	502,900	556,600	585,300	614,900	666,100	579,100	662,300	652,200	664,100	706,500	616,200	615,600
Payables	US$ in thousands	29,600	33,300	33,100	25,800	33,900	39,800	36,500	28,800	29,600	21,700	27,100	29,600	15,700	28,500	20,800	19,100	21,700	30,300	21,000	24,000
Payables turnover		22.12	20.37	22.15	28.74	27.20	20.70	18.48	20.09	16.99	25.65	21.60	20.77	42.43	20.32	31.84	34.15	30.60	23.32	29.34	25.65

September 30, 2024 calculation

Payables turnover = Cost of revenue (ttm) ÷ Payables
= $654,800K ÷ $29,600K
= 22.12

The payables turnover ratio for Myriad Genetics Inc has shown fluctuations over the past few quarters, ranging from a low of 16.99 to a high of 42.43. The ratio indicates how many times a company pays off its accounts payable during a particular period. An increasing payables turnover ratio suggests that the company is managing its payables more efficiently by paying off its debts more frequently.

The recent data reveals an upward trend in the payables turnover ratio, with the latest figure being 22.12, indicating an improvement in the company's ability to settle its payables within a shorter time frame. This suggests that Myriad Genetics Inc is effectively managing its short-term obligations and maintaining good relationships with its creditors.

However, it is essential to compare this ratio with industry benchmarks and historical trends to gain a deeper understanding of the company's liquidity management. Additionally, further analysis of the company's payment terms, cash flow position, and supplier relationships would provide more insights into the efficiency of its payables management.