Impinj Inc (PI)
Payables turnover
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Cost of revenue | US$ in thousands | 274,327 | 262,461 | 203,173 | 163,474 | 137,404 |
| Payables | US$ in thousands | 17,254 | 8,661 | 25,024 | 11,732 | 10,144 |
| Payables turnover | 15.90 | 30.30 | 8.12 | 13.93 | 13.55 |
December 31, 2024 calculation
Payables turnover = Cost of revenue ÷ Payables
= $274,327K ÷ $17,254K
= 15.90
Impinj Inc's payables turnover has shown fluctuations over the past five years. In December 2020, the payables turnover ratio stood at 13.55, indicating that the company was able to convert its accounts payable into cash 13.55 times during that year. The ratio increased slightly to 13.93 by December 2021, suggesting a slightly more efficient management of accounts payable.
However, there was a significant drop in the payables turnover ratio to 8.12 by December 2022, which may indicate a longer payment period for the company's accounts payable or changes in the company's payment policies. The ratio then surged to 30.30 by December 2023, reflecting a substantial improvement in the efficiency of converting payables into cash.
By December 2024, the payables turnover ratio decreased to 15.90, still higher than some previous years but lower than the peak in 2023. Overall, the trend in the payables turnover ratio suggests variability in the management of accounts payable by Impinj Inc over the years, with fluctuations possibly influenced by factors such as payment terms with suppliers and cash flow management strategies.
Peer comparison
Dec 31, 2024