Myriad Genetics Inc (MYGN)

Payables turnover

		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	Jun 30, 2019
Cost of revenue (ttm)	US$ in thousands	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	610,100
Payables	US$ in thousands	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	33,300
Payables turnover		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	18.32

June 30, 2024 calculation

Payables turnover = Cost of revenue (ttm) ÷ Payables
= $678,200K ÷ $33,300K
= 20.37

Myriad Genetics Inc's payables turnover ratio has fluctuated over the past several quarters. The ratio measures how efficiently the company is managing its accounts payable by looking at how many times a company pays off its suppliers during a period.

From December 2019 to March 2020, the payables turnover ratio increased steadily from 18.32 to 34.15, indicating that Myriad Genetics was managing its payables more efficiently during this period. However, this high ratio was not sustained, as it decreased in the following quarters.

From September 2020 to December 2021, the ratio remained relatively stable, ranging from 20.09 to 31.84. This suggests that the company was maintaining a consistent level of efficiency in managing its payables during this time.

The most recent data shows a decrease in the payables turnover ratio, dropping from 22.15 in March 2024 to 20.37 in June 2024. This could indicate that Myriad Genetics is taking longer to pay off its suppliers compared to the previous quarter.

Overall, the trend in the payables turnover ratio for Myriad Genetics Inc shows some variability, but the company has demonstrated the ability to efficiently manage its accounts payable, with occasional fluctuations in performance. It is important for the company to monitor this ratio to ensure effective management of its payables and maintain positive relationships with its suppliers.