Bio-Techne Corp (TECH)
Payables turnover
| Jun 30, 2024 | Jun 30, 2023 | Jun 30, 2022 | Jun 30, 2021 | Jun 30, 2020 | ||
|---|---|---|---|---|---|---|
| Cost of revenue | US$ in thousands | 980,252 | 816,620 | 797,301 | 688,073 | 577,175 |
| Payables | US$ in thousands | 37,968 | 25,679 | 33,865 | 29,384 | 23,090 |
| Payables turnover | 25.82 | 31.80 | 23.54 | 23.42 | 25.00 |
June 30, 2024 calculation
Payables turnover = Cost of revenue ÷ Payables
= $980,252K ÷ $37,968K
= 25.82
Bio-Techne Corp's payables turnover has shown fluctuations over the past five years. The trend indicates that the company takes approximately 26 to 32 days to pay its suppliers on average. The decrease in payables turnover from 2023 to 2024 may suggest that the company is taking slightly longer to pay its bills. However, the payables turnover remains relatively consistent around the 25 to 32 range, indicating efficient management of trade payables. Further analysis of the company's payment terms and relationships with suppliers would provide additional insights into its payables turnover performance.
Peer comparison
Jun 30, 2024