Sanmina Corporation (SANM)
Payables turnover
| Sep 30, 2024 | Sep 30, 2023 | Sep 30, 2022 | Sep 30, 2021 | Sep 30, 2020 | ||
|---|---|---|---|---|---|---|
| Cost of revenue | US$ in thousands | 7,194,090 | 8,452,910 | 7,268,270 | 6,230,200 | 6,434,660 |
| Payables | US$ in thousands | 1,441,980 | 1,559,290 | 2,041,430 | 1,464,690 | 1,210,050 |
| Payables turnover | 4.99 | 5.42 | 3.56 | 4.25 | 5.32 |
September 30, 2024 calculation
Payables turnover = Cost of revenue ÷ Payables
= $7,194,090K ÷ $1,441,980K
= 4.99
The payables turnover ratio for Sanmina Corporation has fluctuated over the past five years. It decreased from 5.32 in 2020 to 4.25 in 2021, indicating a slower rate of paying its suppliers during that period. However, the ratio increased to 3.56 in 2022 and then further to 5.42 in 2023, suggesting a quicker turnover of payables in those years. In the most recent fiscal year ending on September 30, 2024, the payables turnover ratio stood at 4.99, reflecting a moderate improvement from the previous year.
Overall, the payables turnover ratio for Sanmina Corporation has shown variations but has generally remained at levels that signify the company efficiently managing its accounts payable by paying its suppliers in a timely manner relative to its purchases. Further analysis of the company's payables turnover trend in conjunction with other financial ratios and industry benchmarks would provide more insights into its financial performance and liquidity position.
Peer comparison
Sep 30, 2024