TechTarget, Inc. Common Stock (TTGT)
Payables turnover
| Jun 30, 2025 | Mar 31, 2025 | Sep 30, 2024 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cost of revenue (ttm) | US$ in thousands | 136,258 | 115,767 | 94,821 | 91,750 | 84,933 | 79,287 | 75,749 | 76,571 | 77,920 | 78,488 | 78,626 | 76,425 | 73,866 | 71,208 | 62,591 | 54,232 | 45,127 | 37,345 | 34,995 | 33,830 |
| Payables | US$ in thousands | 8,949 | 10,639 | 6,616 | 6,073 | 4,357 | 5,312 | 4,915 | 3,329 | 3,052 | 3,298 | 7 | 7,680 | 2,213 | 3,783 | 2,956 | 3,718 | 2,583 | 4,303 | 1,624 | 1,847 |
| Payables turnover | 15.23 | 10.88 | 14.33 | 15.11 | 19.49 | 14.93 | 15.41 | 23.00 | 25.53 | 23.80 | 11,232.29 | 9.95 | 33.38 | 18.82 | 21.17 | 14.59 | 17.47 | 8.68 | 21.55 | 18.32 |
June 30, 2025 calculation
Payables turnover = Cost of revenue (ttm) ÷ Payables
= $136,258K ÷ $8,949K
= 15.23
The payables turnover ratios of TechTarget, Inc. over the specified periods exhibit notable fluctuations, reflecting variations in the company's efficiency in managing accounts payable obligations.
Between June 30, 2020, and September 30, 2020, the ratio increased from 18.32 to 21.55, indicating an improved efficiency in paying its suppliers. However, there was a significant decline observed at December 31, 2020, when the ratio dropped sharply to 8.68, suggesting the company either extended its payment terms, faced liquidity challenges, or encountered delayed payables.
The ratio recovered somewhat by March 31, 2021, reaching 17.47, and then decreased again in June 2021 to 14.59. A subsequent increase was seen at September 30, 2021, where the ratio rose to 21.17, nearing the levels observed earlier. By December 31, 2021, the ratio was 18.82, maintaining relative stability thereafter.
A marked escalation occurred in March 2022, with the ratio surging to 33.38, which could imply faster payoffs to suppliers or a change in payment terms. This elevated ratio persisted into June 2022 at 9.95, but then experienced an extraordinary spike to an unusually high 11,232.29 at September 30, 2022, likely representing an anomaly, data misreporting, or extraordinary accounting entries rather than an actual operational metric. Subsequent ratios showed some normalization, with December 2022 at 23.80, March 2023 at 25.53, and June 2023 at 23.00, indicating a period of relative operational stability in payables management.
From September 2023 onward, the ratios decreased to 15.41 and 14.93, respectively, and further declined into 2024 and 2025, reaching as low as 10.88 in March 2025, before slightly increasing again to 15.23 by June 2025. These recent figures suggest a trend towards longer payment periods or extended credit terms, which could be strategic for cash flow management.
Overall, TechTarget’s payables turnover ratios have experienced significant variability over the analyzed periods, with some phases indicating rapid payments to suppliers, while others reflect prolonged payable cycles. The extraordinary spike in September 2022 warrants further investigation to clarify its cause, but the general trend in recent years points to a cautious approach toward managing accounts payable and optimizing working capital.
Peer comparison
Jun 30, 2025