STERIS plc (STE)

Payables turnover

		Mar 31, 2025	Mar 31, 2024	Mar 31, 2023	Mar 31, 2022	Mar 31, 2021
Cost of revenue	US$ in thousands	3,056,750	2,902,220	2,555,540	2,568,700	1,764,420
Payables	US$ in thousands	280,770	251,723	279,620	225,737	156,950
Payables turnover		10.89	11.53	9.14	11.38	11.24

March 31, 2025 calculation

Payables turnover = Cost of revenue ÷ Payables
= $3,056,750K ÷ $280,770K
= 10.89

The payables turnover ratio for STERIS plc has shown variability over the years based on the available data. In March 2021, the payables turnover was 11.24 times, indicating that the company was able to convert its accounts payable into cash 11.24 times during the year. This ratio increased slightly to 11.38 times by March 2022, suggesting a slightly more efficient management of payables during that period.

However, there was a notable decrease in the payables turnover ratio to 9.14 times by March 2023, which may indicate a potential slowdown in the company's ability to convert its payables into cash efficiently. Subsequently, the ratio improved to 11.53 times by March 2024, indicating better management of payables during that year.

It is important to note that the payables turnover for March 2025 is not available in the data provided. This missing information limits the ability to provide a comprehensive analysis for that period. Overall, fluctuations in the payables turnover ratio can provide insights into STERIS plc's efficiency in managing its payables and potential cash flow implications.