TTM Technologies Inc (TTMI)

Payables turnover

		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	Jun 30, 2019	Mar 31, 2019
Cost of revenue (ttm)	US$ in thousands	2,081,503	2,119,334	2,156,703	2,221,142	2,313,009	2,288,636	2,194,438	2,133,292	2,085,273	2,034,633	2,063,112	2,082,920	2,057,460	2,232,813	2,364,716	2,315,984	2,340,895	2,343,665	2,364,444	2,556,208
Payables	US$ in thousands	334,609	336,070	306,298	312,823	361,788	406,816	425,135	383,929	361,484	386,705	364,005	336,739	327,102	341,505	351,819	309,580	329,866	470,233	432,936	424,291
Payables turnover		6.22	6.31	7.04	7.10	6.39	5.63	5.16	5.56	5.77	5.26	5.67	6.19	6.29	6.54	6.72	7.48	7.10	4.98	5.46	6.02

December 31, 2023 calculation

Payables turnover = Cost of revenue (ttm) ÷ Payables
= $2,081,503K ÷ $334,609K
= 6.22

TTM Technologies Inc's payables turnover ratio has been fluctuating over the past 20 quarters, ranging from a low of 4.98 to a high of 7.48. The payables turnover ratio measures how many times a company pays off its accounts payable over a period, indicating the efficiency of managing suppliers and working capital.

The trend in TTM Technologies Inc's payables turnover ratio has generally been increasing over the past few quarters, showing improvement in their ability to manage their accounts payable. A higher payables turnover ratio indicates that the company is paying off its suppliers more frequently, which can be beneficial in terms of improving relationships with suppliers and managing cash flow.

Overall, the increasing trend in TTM Technologies Inc's payables turnover ratio suggests that the company is managing its accounts payable more effectively, which may result in better working capital management and improved financial health in the long term.