Nextracker Inc. Class A Common Stock (NXT)

Payables turnover

		Mar 31, 2025	Mar 31, 2024	Mar 31, 2023	Mar 31, 2022	Mar 31, 2021
Cost of revenue	US$ in thousands	1,950,370	1,686,790	1,615,160	1,310,560	963,636
Payables	US$ in thousands	585,299	456,639	211,355	266,596	231,460
Payables turnover		3.33	3.69	7.64	4.92	4.16

March 31, 2025 calculation

Payables turnover = Cost of revenue ÷ Payables
= $1,950,370K ÷ $585,299K
= 3.33

The payables turnover ratio for Nextracker Inc. Class A Common Stock has shown fluctuating trends over the past five years. It increased from 4.16 in March 2021 to 7.64 in March 2023, indicating the company's ability to pay off its suppliers more frequently within a year. However, there was a significant decline in the payables turnover ratio to 3.69 in March 2024, followed by a slight decrease to 3.33 in March 2025.

Overall, the payables turnover ratio for Nextracker Inc. Class A Common Stock has been relatively healthy, reflecting efficient management of trade payables and indicating the company's ability to manage its short-term obligations effectively. The fluctuations in the ratio over the years may be attributed to changes in the company's purchasing and payment processes, supplier relationships, or business operations.