Progress Software Corporation (PRGS)
Payables turnover
| Nov 30, 2024 | Aug 31, 2024 | May 31, 2024 | Feb 29, 2024 | Nov 30, 2023 | Aug 31, 2023 | May 31, 2023 | Feb 28, 2023 | Nov 30, 2022 | Aug 31, 2022 | May 31, 2022 | Feb 28, 2022 | Nov 30, 2021 | Aug 31, 2021 | May 31, 2021 | Feb 28, 2021 | Nov 30, 2020 | Aug 31, 2020 | May 31, 2020 | Feb 29, 2020 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cost of revenue (ttm) | US$ in thousands | 130,482 | 127,607 | 131,462 | 133,169 | 126,577 | 116,445 | 107,322 | 97,501 | 94,496 | 92,045 | 88,317 | 83,670 | 78,449 | 75,600 | 70,270 | 65,219 | 62,114 | 64,649 | 70,736 | 74,088 |
| Payables | US$ in thousands | 13,910 | 10,781 | 8,583 | 9,921 | 12,371 | 8,729 | 7,162 | 10,464 | 9,282 | 7,717 | 9,917 | 8,041 | 9,683 | 6,667 | 11,358 | 10,105 | 9,978 | 6,372 | 8,815 | 10,215 |
| Payables turnover | 9.38 | 11.84 | 15.32 | 13.42 | 10.23 | 13.34 | 14.98 | 9.32 | 10.18 | 11.93 | 8.91 | 10.41 | 8.10 | 11.34 | 6.19 | 6.45 | 6.23 | 10.15 | 8.02 | 7.25 |
November 30, 2024 calculation
Payables turnover = Cost of revenue (ttm) ÷ Payables
= $130,482K ÷ $13,910K
= 9.38
Progress Software Corporation's payables turnover has shown variability over the analyzed periods. The trend indicates an improvement in payables turnover from February 2023 to May 2023. However, there was a significant increase from August 2023 to May 2024, reaching a peak of 15.32. The company's ability to efficiently manage its accounts payables increased during this period. Nevertheless, there was a slight decrease in the payables turnover ratio by the end of November 2024. Overall, the company's payables turnover ratio has been fluctuating, showcasing both improvements and declines in managing its payables efficiently.
Peer comparison
Nov 30, 2024