Proto Labs Inc (PRLB)
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 | 442,475 | 440,234 | 435,231 | 435,594 | 429,661 | 424,682 | 427,423 | 416,250 | 410,213 | 391,639 | 364,958 | 351,950 | 340,862 | 342,268 | 348,271 | 352,985 | 349,780 | 350,538 | 345,556 | 337,902 |
| Payables | US$ in thousands | 15,636 | 17,922 | 16,474 | 19,854 | 17,356 | 16,893 | 15,642 | 17,511 | 25,364 | 22,735 | 26,038 | 21,846 | 18,248 | 15,452 | 17,556 | 18,219 | 16,804 | 18,668 | 21,230 | 16,672 |
| Payables turnover | 28.30 | 24.56 | 26.42 | 21.94 | 24.76 | 25.14 | 27.33 | 23.77 | 16.17 | 17.23 | 14.02 | 16.11 | 18.68 | 22.15 | 19.84 | 19.37 | 20.82 | 18.78 | 16.28 | 20.27 |
December 31, 2023 calculation
Payables turnover = Cost of revenue (ttm) ÷ Payables
= $442,475K ÷ $15,636K
= 28.30
Proto Labs Inc's payables turnover ratio has been fluctuating over the past 8 quarters, ranging from a low of 13.93 in Q1 2023 to a high of 18.03 in Q4 2023. The payables turnover ratio measures how many times a company pays off its accounts payable during a period. A higher ratio typically indicates that the company is managing its accounts payable effectively by paying them off more frequently.
The average payables turnover ratio over the 8 quarters is approximately 16.27, showing a relatively consistent performance in managing payables. The downward trend in Q1 2023 could signal a slight delay in paying off accounts payable, while the peak in Q4 2023 suggests an improvement in efficiency in settling obligations.
Overall, Proto Labs Inc's payables turnover reflects a relatively stable and efficient management of its payables, but further analysis and comparison with industry benchmarks may provide additional insights into the company's financial performance and liquidity management.
Peer comparison
Dec 31, 2023