QuinStreet Inc (QNST)

Payables turnover

		Jun 30, 2024	Mar 31, 2024	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
Cost of revenue (ttm)	US$ in thousands	567,268	506,093	507,450	517,130	532,101	547,130	528,064	518,108	528,368	526,248	522,346	527,229	507,955	480,480	462,025	446,906	437,864	440,148	424,288	409,885
Payables	US$ in thousands	48,204	40,621	33,783	34,286	37,926	41,279	37,840	40,916	42,410	39,667	39,139	48,354	45,231	39,848	37,748	47,596	36,759	40,065	34,298	40,020
Payables turnover		11.77	12.46	15.02	15.08	14.03	13.25	13.96	12.66	12.46	13.27	13.35	10.90	11.23	12.06	12.24	9.39	11.91	10.99	12.37	10.24

June 30, 2024 calculation

Payables turnover = Cost of revenue (ttm) ÷ Payables
= $567,268K ÷ $48,204K
= 11.77

The payables turnover ratio of QuinStreet Inc has shown fluctuations over the periods analyzed. The ratio ranged from a low of 9.39 in September 2020 to a high of 15.08 in September 2023. This indicates the number of times in a year that the company pays off its suppliers on average.

A higher payables turnover ratio suggests that the company is paying off its suppliers more quickly, which can indicate efficient management of accounts payable. Conversely, a lower ratio could imply that the company is taking longer to pay its suppliers, potentially indicating liquidity issues or an opportunity to improve negotiation terms with suppliers.

Overall, QuinStreet Inc's payables turnover ratio has generally been within a reasonable range over the periods examined, indicating a consistent approach to managing its accounts payable. However, it would be beneficial for the company to analyze the underlying reasons for the fluctuations in the ratio to ensure optimal cash flow management and supplier relationships.