Qualys Inc (QLYS)

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	107,485	108,103	107,356	105,740	102,788	98,768	95,255	91,761	89,439	86,932	85,072	82,411	79,226	75,168	71,657	70,303	69,517	69,879	69,282	67,993
Payables	US$ in thousands	988	1,165	2,160	1,740	2,808	1,308	2,132	2,477	1,296	1,099	1,597	1,164	731	2,223	1,395	653	848	909	963	566
Payables turnover		108.79	92.79	49.70	60.77	36.61	75.51	44.68	37.05	69.01	79.10	53.27	70.80	108.38	33.81	51.37	107.66	81.98	76.87	71.94	120.13

December 31, 2023 calculation

Payables turnover = Cost of revenue (ttm) ÷ Payables
= $107,485K ÷ $988K
= 108.79

Payables turnover is a financial ratio that measures the number of times a company pays off its accounts payable during a specific period. A higher payables turnover ratio suggests that a company is efficiently managing its payables by paying them off quickly.

Analyzing the payables turnover of Qualys Inc from Q1 2022 to Q4 2023, we observe fluctuations in the ratio. In Q4 2023, the payables turnover was 108.79, indicating that Qualys Inc paid off its accounts payable approximately 109 times during the quarter. This represents a significant increase from the previous quarter's ratio of 92.79 in Q3 2023.

The higher payables turnover in Q4 2023 could imply that Qualys Inc effectively managed its payables by making payments more frequently or negotiating favorable payment terms with its suppliers. This trend suggests improved liquidity management and potential positive relationships with its vendors.

It is essential to consider the industry norms and compare Qualys Inc's payables turnover with its competitors to gain a more comprehensive understanding of its payment practices. Further analysis of other liquidity and efficiency ratios would provide additional insight into the company's overall financial health and operational efficiency.