ResMed Inc (RMD)
Payables turnover
Mar 31, 2025 | 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 | ||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Cost of revenue (ttm) | US$ in thousands | 2,082,362 | 2,072,437 | 2,057,490 | 1,913,177 | 1,898,918 | 1,882,661 | 1,820,823 | 1,867,330 | 1,754,890 | 1,629,047 | 1,565,574 | 1,553,816 | 1,546,992 | 1,495,198 | 1,442,170 | 1,357,727 | 1,293,291 | 1,291,575 | 1,263,074 | 1,225,792 |
Payables | US$ in thousands | 222,561 | 220,313 | 249,278 | 237,728 | 177,445 | 202,395 | 177,048 | 150,756 | 161,896 | 196,003 | 181,485 | 159,245 | 149,797 | 163,369 | 173,696 | 138,008 | 117,222 | 122,166 | 117,589 | 135,786 |
Payables turnover | 9.36 | 9.41 | 8.25 | 8.05 | 10.70 | 9.30 | 10.28 | 12.39 | 10.84 | 8.31 | 8.63 | 9.76 | 10.33 | 9.15 | 8.30 | 9.84 | 11.03 | 10.57 | 10.74 | 9.03 |
March 31, 2025 calculation
Payables turnover = Cost of revenue (ttm) ÷ Payables
= $2,082,362K ÷ $222,561K
= 9.36
The payables turnover ratios for ResMed Inc. over recent fiscal periods demonstrate fluctuations indicative of the company's evolving management of accounts payable relative to purchases or cost of goods sold.
In the fiscal year ending June 30, 2020, the ratio stood at 9.03, increasing significantly to 10.74 by September 30, 2020. This upward trend continued into December 2020 at 10.57 and further into March 2021 at 11.03, suggesting an improvement in paying suppliers more quickly relative to the volume of purchases.
During 2021, the ratio experienced a decline to 9.84 in June, followed by a decrease to 8.30 in September — the lowest in the observed period — before rebounding to 9.15 in December and rising again to 10.33 in March 2022. This indicates some irregularity in the company's payment cycle during this period.
In 2022, the ratio peaked at 10.84 in March, but then gradually declined to 8.63 in September and 8.31 in December, reflecting possibly longer payment periods or changes in purchasing behavior. The ratio surged again to 10.70 in March 2023, surpassing previous peaks, then increased further to 12.39 in June 2023. This suggests a notably faster payment cycle or a rise in the efficiency of settling liabilities during this period.
Subsequent quarters showed some decline to 10.28 in September and 9.30 in December 2023, with a slight increase to 10.70 in March 2024. The ratio then declined to 8.05 by June 2024, after which it modestly increased to 8.25 in September 2024 and 9.41 in December 2024. The ratio for March 2025 settled at 9.36.
Overall, the payables turnover ratio exhibits periods of both acceleration and deceleration, with notable peaks around March and June 2023, and troughs during the latter half of 2022. These fluctuations imply that ResMed's payment policies or operational conditions affecting accounts payable have varied across the observed timeframe, reflecting adaptations to external pressures, supplier negotiations, or internal cash management strategies.
Peer comparison
Mar 31, 2025