Nextracker Inc. Class A Common Stock (NXT)

Payables turnover

		Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022
Cost of revenue (ttm)	US$ in thousands	1,686,792	1,718,830	1,649,240
Payables	US$ in thousands	456,639	374,919	403,478	293,451	211,355	311,354
Payables turnover		3.69	4.58	4.09

March 31, 2024 calculation

Payables turnover = Cost of revenue (ttm) ÷ Payables
= $1,686,792K ÷ $456,639K
= 3.69

The payables turnover ratio of Nextracker Inc. Class A Common Stock has shown some fluctuations over the past six quarters. The payables turnover ratio was 3.69 for the quarter ending March 31, 2024, indicating that the company's payables turnover slowed down compared to the previous quarter. This suggests that Nextracker Inc. took longer to pay off its trade payables during this period.

In the previous quarter, ending December 31, 2023, the payables turnover ratio improved to 4.58, indicating that the company managed to pay off its trade payables more efficiently. However, the ratio decreased from the historically high level of 4.09 in the quarter ending September 30, 2023.

Overall, the trend in payables turnover for Nextracker Inc. Class A Common Stock shows some variability, with fluctuations in the efficiency of the company's payables management. It is important for stakeholders to monitor this ratio over time to assess the company's ability to manage its payables effectively.