United Therapeutics Corporation (UTHR)

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	733,100	387,200	325,100	302,200	167,400	509,000	425,700	320,800	396,100	330,900	290,100	301,500	275,600	172,200	193,700	142,700	117,600	120,700	139,600	174,600
Payables	US$ in thousands	5,600	—	—	—	4,100	—	—	—	3,800	—	—	—	4,100	—	—	—	9,900	—	—	—
Payables turnover		130.91	—	—	—	40.83	—	—	—	104.24	—	—	—	67.22	—	—	—	11.88	—	—	—

December 31, 2023 calculation

Payables turnover = Cost of revenue (ttm) ÷ Payables
= $733,100K ÷ $5,600K
= 130.91

Based on the provided data, United Therapeutics Corp's payables turnover ratio for Q4 2023 stands at 45.98. This indicates that the company is able to efficiently manage its accounts payable by paying off its suppliers nearly 46 times during the period. Comparing this figure to Q4 2022 where the payables turnover was 36.98, we see an improvement in the management of payables.

However, without additional data from other quarters in 2023, it is challenging to assess the trend and the overall effectiveness of the company in managing its payables. It would be insightful to track the progress over multiple quarters to gain a more comprehensive understanding of United Therapeutics Corp's payables turnover performance.