Bio-Techne Corp (TECH)

Payables turnover

		Jun 30, 2024	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
Cost of revenue (ttm)	US$ in thousands	673,422	848,681	827,961	786,090	777,723	822,616	873,875	935,137	919,432	866,636	782,029	696,005	657,412	531,504	504,565	479,657	473,804	474,689	468,973	462,507
Payables	US$ in thousands	37,968	28,895	31,514	28,084	25,679	27,120	24,100	30,475	33,865	30,859	26,756	25,621	29,384	25,842	24,252	27,190	23,090	19,735	19,092	14,106
Payables turnover		17.74	29.37	26.27	27.99	30.29	30.33	36.26	30.69	27.15	28.08	29.23	27.17	22.37	20.57	20.81	17.64	20.52	24.05	24.56	32.79

June 30, 2024 calculation

Payables turnover = Cost of revenue (ttm) ÷ Payables
= $673,422K ÷ $37,968K
= 17.74

The payables turnover for Bio-Techne Corp has shown fluctuations over the past several quarters. The ratio has ranged from a low of 17.64 to a high of 36.26, indicating variations in the company's ability to manage its accounts payable effectively.

A higher payables turnover ratio suggests that the company is paying off its suppliers more frequently within a given period, which can be a sign of good liquidity management and strong supplier relationships. Conversely, a lower payables turnover ratio may indicate that the company is taking longer to pay its suppliers, potentially straining supplier relationships or indicating cash flow challenges.

Overall, Bio-Techne Corp's payables turnover ratio has shown some volatility over the periods analyzed. It is essential for the company to closely monitor and manage its payables turnover to ensure efficient working capital management and sustainable relationships with suppliers.