Perficient Inc (PRFT)

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	721,501	721,408	719,756	707,640	700,659	690,963	665,196	638,452	598,566	566,902	542,309	516,588	501,600	491,345	480,564	476,650	467,170	459,604	444,832	429,688
Payables	US$ in thousands	18,688	15,307	16,220	14,529	24,351	19,300	20,588	22,241	26,074	19,168	26,167	16,150	25,613	16,519	16,085	15,498	23,081	14,473	15,914	12,661
Payables turnover		38.61	47.13	44.37	48.71	28.77	35.80	32.31	28.71	22.96	29.58	20.72	31.99	19.58	29.74	29.88	30.76	20.24	31.76	27.95	33.94

December 31, 2023 calculation

Payables turnover = Cost of revenue (ttm) ÷ Payables
= $721,501K ÷ $18,688K
= 38.61

The payables turnover ratio of Perficient Inc. has been fluctuating over the past eight quarters, ranging from a low of 22.54 in Q1 2022 to a high of 38.43 in Q1 2023. The payables turnover indicates how many times a company pays off its accounts payable during a specific period. A higher payables turnover ratio suggests that the company is efficiently managing its accounts payable by paying them off quickly.

The general trend for Perficient Inc. has shown an improvement in the payables turnover ratio from Q1 2022 to Q1 2023, indicating a more frequent turnover of payables over time. This improvement suggests that the company may be negotiating better payment terms with its suppliers or managing its working capital more effectively.

It is important to continue monitoring the payables turnover ratio to ensure that the company maintains efficient management of its accounts payable and sustains a healthy financial position.