Impinj Inc (PI)
Payables turnover
| Sep 30, 2024 | 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 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cost of revenue (ttm) | US$ in thousands | 269,391 | 258,173 | 260,596 | 262,461 | 255,659 | 247,656 | 226,607 | 203,173 | 188,305 | 177,833 | 167,615 | 163,474 | 156,653 | 145,192 | 137,573 | 137,404 | 138,086 | 143,203 | 144,554 | 121,584 |
| Payables | US$ in thousands | 20,504 | 15,305 | 9,416 | 8,661 | 11,017 | 27,627 | 36,713 | 25,024 | 13,249 | 10,099 | 9,103 | 11,732 | 8,439 | 10,671 | 8,799 | 10,144 | 8,597 | 4,473 | 6,748 | 5,600 |
| Payables turnover | 13.14 | 16.87 | 27.68 | 30.30 | 23.21 | 8.96 | 6.17 | 8.12 | 14.21 | 17.61 | 18.41 | 13.93 | 18.56 | 13.61 | 15.64 | 13.55 | 16.06 | 32.01 | 21.42 | 21.71 |
September 30, 2024 calculation
Payables turnover = Cost of revenue (ttm) ÷ Payables
= $269,391K ÷ $20,504K
= 13.14
The payables turnover ratio for Impinj Inc has shown fluctuations over the past few quarters. Generally, a higher payables turnover ratio indicates that the company is paying its suppliers more frequently, which can be a positive sign of strong cash flow management.
In this case, the payables turnover ratio for Impinj Inc has ranged from a low of 6.17 to a high of 32.01 over the past eight quarters. The highest ratio of 32.01 was recorded in the third quarter of 2020, indicating that the company was paying its suppliers over 32 times a year during that period.
The trend shows that the payables turnover ratio has been quite volatile, with significant fluctuations from quarter to quarter. It would be essential to investigate the reasons behind these fluctuations to determine the underlying causes of the changes in the ratio.
Overall, the payables turnover ratio for Impinj Inc provides insights into the company's payment practices and relationship with its suppliers over time, highlighting the importance of efficient working capital management.
Peer comparison
Sep 30, 2024