TTM Technologies Inc (TTMI)

Payables turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Cost of revenue	US$ in thousands	2,164,350	2,313,010	2,105,140	2,057,460	2,569,190
Payables	US$ in thousands	334,609	361,788	361,484	327,102	329,866
Payables turnover		6.47	6.39	5.82	6.29	7.79

December 31, 2023 calculation

Payables turnover = Cost of revenue ÷ Payables
= $2,164,350K ÷ $334,609K
= 6.47

TTM Technologies Inc's payables turnover ratio has shown some fluctuations over the past five years. The ratio was 6.47 in 2023, which indicates that the company paid its accounts payable approximately 6.47 times during the year. This was slightly higher compared to the previous year when the payables turnover was 6.39.

In 2021, the payables turnover ratio decreased to 5.82, suggesting that the company took longer to pay its suppliers compared to the previous year. However, in 2020, the ratio slightly improved to 6.29 before significantly increasing to 7.79 in 2019, indicating that the company paid its accounts payable more frequently that year.

Overall, TTM Technologies Inc's payables turnover has shown some variability, with fluctuations in how quickly the company pays its suppliers. Further analysis of the company's working capital management and supplier relationships may provide additional insights into the reasons behind these fluctuations.