RadNet Inc (RDNT)

Payables turnover

Dec 31, 2024 Sep 30, 2024 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
Cost of revenue (ttm) US$ in thousands 121,049 117,292 113,841 112,343 112,235 110,358 109,400 107,629 104,697 90,982 90,950 91,119 91,205 89,413 89,821 90,412 90,200 258,123 511,935 757,634
Payables US$ in thousands 96,450 — — — 122,888 — — — 102,678 — — — 86,461 — — — 70,071 — — —
Payables turnover 1.26 — — — 0.91 — — — 1.02 — — — 1.05 — — — 1.29 — — —

December 31, 2024 calculation

Payables turnover = Cost of revenue (ttm) ÷ Payables
= $121,049K ÷ $96,450K
= 1.26

The payables turnover ratio for RadNet Inc fluctuated over the years. In December 2020, the ratio was 1.29, indicating that the company paid off its accounts payable approximately 1.29 times during that period. The ratio decreased to 1.05 in December 2021, demonstrating a decrease in the frequency of paying off accounts payable.

For the following years, the payables turnover remained relatively stable, with slight fluctuations. In December 2022, the ratio was 1.02, suggesting a similar payment trend as the previous year. However, by December 2023, the ratio dropped to 0.91, indicating a slower rate of paying off accounts payable compared to previous periods.

Overall, the trend in RadNet Inc's payables turnover ratio shows variability in the company's payment efficiency and management of its accounts payable. It is essential for the company to analyze the reasons behind these fluctuations to ensure efficient cash flow management and vendor relationships.