N-Able Inc (NABL)
Payables turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | ||
|---|---|---|---|---|
| Cost of revenue | US$ in thousands | 275,220 | 263,366 | 264,750 |
| Payables | US$ in thousands | 5,239 | 3,544 | 5,865 |
| Payables turnover | 52.53 | 74.31 | 45.14 |
December 31, 2023 calculation
Payables turnover = Cost of revenue ÷ Payables
= $275,220K ÷ $5,239K
= 52.53
The payables turnover ratio for N-Able Inc has exhibited fluctuations over the past three years. In 2023, the company's payables turnover stood at 52.53, indicating that the company paid its suppliers approximately 52.53 times during the year. This is a decrease from the previous year's figure of 74.31 in 2022. The decline in payables turnover from 2022 to 2023 suggests that the company took longer to settle its payables relative to the previous year.
Compared to 2021, the payables turnover ratio in 2023 showed an improvement from 45.14 to 52.53, indicating that the company paid its suppliers more frequently in 2023. This could indicate better management of accounts payable or potentially more efficient cash flow management.
Overall, analyzing the payables turnover ratio provides insight into how effectively N-Able Inc is managing its accounts payable and cash flow. Further investigation into the underlying reasons for the fluctuations in the payables turnover ratio can help in assessing the company's financial health and operational efficiency.
Peer comparison
Dec 31, 2023