STERIS plc (STE)

Payables turnover

		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	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019
Cost of revenue (ttm)	US$ in thousands	3,089,449	3,049,739	2,951,184	2,870,535	2,798,147	2,640,436	2,616,796	2,665,255	2,568,702	2,423,351	2,215,557	1,925,011	1,764,419	1,730,611	1,710,456	1,702,534	1,710,899	1,684,491
Payables	US$ in thousands	251,723	276,730	293,628	260,687	264,165	242,491	233,308	228,987	225,737	207,152	219,255	232,186	156,950	134,471	124,944	133,532	149,341	139,808	133,802	135,487
Payables turnover		12.27	11.02	10.05	11.01	10.59	10.89	11.22	11.64	11.38	11.70	10.10	8.29	11.24	12.87	13.69	12.75	11.46	12.05

March 31, 2024 calculation

Payables turnover = Cost of revenue (ttm) ÷ Payables
= $3,089,449K ÷ $251,723K
= 12.27

The payables turnover ratio for STERIS plc has been fluctuating over the past few quarters. The ratio indicates how many times a company pays off its accounts payable during a specific period.

From the data provided:
- The payables turnover ratio has ranged from a low of 8.29 to a high of 13.69.
- The ratio for the most recent quarter, March 31, 2024, stands at 12.27, suggesting that the company paid off its accounts payable approximately 12.27 times during that quarter.
- Overall, the payables turnover ratio has shown an upward trend from the beginning of 2020 to the end of 2020, followed by fluctuations in 2021 and 2022.

An increasing payables turnover ratio can indicate that the company is managing its payables efficiently by paying them off quickly. On the other hand, a declining ratio may suggest a delay in paying off obligations. It is important for stakeholders to monitor these trends to assess the company's liquidity and financial health.