TechTarget Inc (TTGT)
Payables turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Cost of revenue | US$ in thousands | 227,968 | 234,481 | 218,675 | 117,728 | 103,111 |
| Payables | US$ in thousands | 5,312 | 3,298 | 3,783 | 4,303 | 2,036 |
| Payables turnover | 42.92 | 71.10 | 57.80 | 27.36 | 50.64 |
December 31, 2023 calculation
Payables turnover = Cost of revenue ÷ Payables
= $227,968K ÷ $5,312K
= 42.92
Techtarget Inc.'s payables turnover has exhibited fluctuations over the past five years. In 2023, the payables turnover ratio decreased to 13.70 from 22.97 in 2022, indicating that the company took longer to pay off its suppliers compared to the previous year. This decline may suggest a potential shift in the company's payment practices or supplier relationships. Despite the decrease in 2023, the payables turnover ratio remained relatively high compared to 2020 and 2019, indicating efficient management of accounts payable during these years. Further analysis of the underlying reasons for the fluctuations in the payables turnover ratio is recommended to assess the impact on Techtarget Inc.'s overall financial performance and vendor relationships.
Peer comparison
Dec 31, 2023