Impinj Inc (PI)
Payables turnover
| Dec 31, 2024 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cost of revenue (ttm) | US$ in thousands | 274,336 | 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 |
| Payables | US$ in thousands | 17,254 | 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 |
| Payables turnover | 15.90 | 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 |
December 31, 2024 calculation
Payables turnover = Cost of revenue (ttm) ÷ Payables
= $274,336K ÷ $17,254K
= 15.90
Impinj Inc's payables turnover has shown fluctuations over the given period. The payables turnover ratio measures how efficiently a company manages its outstanding payments to suppliers. A higher ratio indicates that the company is paying its suppliers more quickly.
From March 31, 2020, to June 30, 2020, there was a notable increase in the payables turnover ratio from 21.42 to 32.01, indicating that Impinj Inc was paying its suppliers at a faster rate. However, this trend was not sustained as the ratio decreased to 13.55 by December 31, 2020.
The ratio continued to fluctuate throughout the subsequent periods, reaching a peak of 30.30 on December 31, 2023, before dropping to 13.14 on September 30, 2024. This downward trend suggests that Impinj Inc started taking longer to pay its suppliers, potentially impacting relationships with suppliers and liquidity management.
Overall, it is recommended for Impinj Inc to closely monitor its payables turnover ratio and strive to strike a balance between efficient payment management and maintaining positive relationships with suppliers.
Peer comparison
Dec 31, 2024