Name: Payables Turnover

Definition: Payables turnover shows how fast the company pays its suppliers for goods or services bought on credit. A high turnover means the company pays suppliers quickly, which may reflect strong cash flow or favorable terms. A very low turnover might mean the company is stretching payments to preserve cash — or possibly experiencing financial strain.

Interpretation:
• In '2021', MDXG's payables turnover was 5.37, indicating how promptly the company pays its suppliers. Industry average for Biotechnology: Pharmaceutical Preparations in '2021' stood at 1.98.
• In '2022', MDXG's payables turnover was 6.10, indicating how promptly the company pays its suppliers. The increase since '2021' reflects strengthening financial performance. Industry average for Biotechnology: Pharmaceutical Preparations in '2022' stood at 1.99. Industry average increased by 0.01 compared to previous year.
• In '2023', MDXG's payables turnover was 6.24, indicating how promptly the company pays its suppliers. The increase since '2022' reflects strengthening financial performance. Industry average for Biotechnology: Pharmaceutical Preparations in '2023' stood at 1.93. Industry average declined by 0.05 from previous year.
• In '2024', MDXG's payables turnover was 6.72, indicating how promptly the company pays its suppliers. The increase since '2023' reflects strengthening financial performance. Industry average for Biotechnology: Pharmaceutical Preparations in '2024' stood at 2.39. Industry average increased by 0.45 compared to previous year.
Overall, MDXG's payables turnover has steadily improved over the past 4 years.

Formula: Payables Turnover = Cost of Goods Sold / Average Accounts Payable

Good Range: Ranges 5-15 depending on industry.