Perdoceo Education Corp (PRDO)

Payables turnover

		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	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Cost of revenue (ttm)	US$ in thousands	531,834	576,535	582,134	582,881	575,648	563,801	565,030	569,606	572,475	584,931	584,245	583,191	575,924	558,650	554,507	575,423	570,198	564,071	559,828	529,364
Payables	US$ in thousands	10,766	14,542	15,361	15,178	13,518	13,285	12,419	12,135	10,838	12,650	11,533	10,767	13,259	12,856	11,909	9,624	11,533	11,044	12,382	13,072
Payables turnover		49.40	39.65	37.90	38.40	42.58	42.44	45.50	46.94	52.82	46.24	50.66	54.16	43.44	43.45	46.56	59.79	49.44	51.07	45.21	40.50

December 31, 2023 calculation

Payables turnover = Cost of revenue (ttm) ÷ Payables
= $531,834K ÷ $10,766K
= 49.40

Based on the data provided for Perdoceo Education Corporation's payables turnover ratio, it appears that the company has consistently reported a payables turnover ratio of 0.00 across all the quarterly periods listed. This suggests that the company is not effectively managing its accounts payable, as a payables turnover ratio of 0.00 indicates that the company is not paying its suppliers in a timely manner or may have a significant amount of outstanding payables relative to its cost of goods sold.

A payables turnover ratio of 0.00 can indicate potential liquidity issues for the company, as it may be holding onto its cash rather than using it to settle its payables. This could potentially strain relationships with suppliers and lead to unfavorable credit terms in the future. Additionally, a low payables turnover ratio may indicate inefficiencies in the company's supply chain management and procurement processes.

Overall, Perdoceo Education Corporation's consistent payables turnover ratio of 0.00 suggests that the company may need to evaluate and improve its accounts payable practices in order to enhance its working capital management and maintain healthy supplier relationships.