RadNet Inc (RDNT)
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 | 112,235 | 110,358 | 109,400 | 107,629 | 104,697 | 90,982 | 90,950 | 91,119 | 91,205 | 89,413 | 89,821 | 90,412 | 90,200 | 258,123 | 511,935 | 757,634 | 999,693 | 977,345 | 931,473 | 894,970 |
| Payables | US$ in thousands | 122,888 | — | — | — | 102,678 | — | — | — | 86,461 | — | — | — | 70,071 | — | — | — | 64,300 | — | — | — |
| Payables turnover | 0.91 | — | — | — | 1.02 | — | — | — | 1.05 | — | — | — | 1.29 | — | — | — | 15.55 | — | — | — |
December 31, 2023 calculation
Payables turnover = Cost of revenue (ttm) ÷ Payables
= $112,235K ÷ $122,888K
= 0.91
The payables turnover ratio for Radnet Inc for the fourth quarter of 2023 was 11.35. This indicates that the company is able to pay off its accounts payable approximately 11.35 times during the quarter. Comparing this to the payables turnover ratio of 12.31 in the fourth quarter of 2022, we see a slight decrease in efficiency in managing accounts payable over the year. However, as data for the other quarters of 2023 is not available, it is challenging to determine the trend or reason behind this change in performance. It is important for Radnet Inc to closely monitor its payables turnover ratio to ensure effective management of its accounts payable and working capital.
Peer comparison
Dec 31, 2023