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 '2022', MIND's payables turnover was 4.46, indicating how promptly the company pays its suppliers. Industry average for Industrial Machinery/Components in '2022' stood at 4.59.
• In '2023', MIND's payables turnover was 3.85, indicating how promptly the company pays its suppliers. The decline from '2022' may indicate some operational or financial challenges. Industry average for Industrial Machinery/Components in '2023' stood at 4.95. Industry average increased by 0.35 compared to previous year.
• In '2024', MIND's payables turnover was 5.32, indicating how promptly the company pays its suppliers. The increase since '2023' reflects strengthening financial performance. Industry average for Industrial Machinery/Components in '2024' stood at 4.98. Industry average increased by 0.04 compared to previous year.
• In '2025', MIND's payables turnover was 5.91, indicating how promptly the company pays its suppliers. The increase since '2024' reflects strengthening financial performance. Industry average for Industrial Machinery/Components in '2025' stood at 5.13. Industry average increased by 0.15 compared to previous year.
Overall, MIND's payables turnover has been volatile but showed an upward trend over the past 4 years.

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

Good Range: Ranges 5-15 depending on industry.