Shutterstock (SSTK)

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	573,670	573,670	536,389	527,918	519,301	689,065	685,993	660,451	636,295	591,315	553,573	531,979	539,082	541,063	558,063	580,640	578,552	567,831	556,512	544,066
Payables	US$ in thousands	9,108	7,147	6,095	7,778	7,183	6,467	5,889	7,208	10,092	5,118	5,402	6,088	2,442	4,109	4,504	4,125	6,104	4,186	3,888	4,941
Payables turnover		62.99	80.27	88.00	67.87	72.30	106.55	116.49	91.63	63.05	115.54	102.48	87.38	220.75	131.68	123.90	140.76	94.78	135.65	143.14	110.11

December 31, 2023 calculation

Payables turnover = Cost of revenue (ttm) ÷ Payables
= $573,670K ÷ $9,108K
= 62.99

Shutterstock Inc's payables turnover ratio has been fluctuating over the past eight quarters. The ratio indicates how efficiently the company is managing its accounts payable by measuring the number of times the company pays off its suppliers within a given period.

In Q4 2023, the payables turnover ratio stood at 38.72, showing a decline from the previous quarter's ratio of 48.23. This decrease could signify that the company took longer to pay off its suppliers compared to the previous quarter.

Looking at the trend over the past two years, the payables turnover ratio has shown some variability but generally remained within a range of 39.58 to 54.21. Q2 2023 recorded the highest ratio at 54.21, indicating that the company efficiently managed its payables during that period.

Overall, while fluctuations in the payables turnover ratio are normal due to various factors impacting the company's payment practices, it is essential for Shutterstock Inc to monitor this ratio closely to ensure effective management of its accounts payable and maintain good relationships with its suppliers.