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Nortech Systems Incorporated
NASDAQ NSYS
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Nortech Systems Incorporated Accounts Payable Turnover Ratio 5 year CAGR for the year ending December 31, 2023: 6.96%
Nortech Systems Incorporated Accounts Payable Turnover Ratio 5 year CAGR is 6.96% for the year ending December 31, 2023, a 711.26% change year over year. The accounts payable turnover ratio measures the number of times a company pays off its accounts payable during a specific period. It is calculated by dividing the company's revenue by its accounts payable. This ratio indicates how efficiently a company manages its outstanding payments to suppliers and vendors. A higher turnover ratio suggests that the company is paying off its obligations quickly, while a lower ratio may indicate a slower payment process or potential liquidity issues. CAGR, or the Compound Annual Growth Rate, quantifies the mean annual growth rate of an investment or financial metric over a specified time span, considering the influence of compounding. It is instrumental in determining the true annualized return on an investment.
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Nortech Systems Incorporated Accounts Payable Turnover Ratio for the year ending December 31, 2022 was 9.07, a 0.07% change year over year.
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Nortech Systems Incorporated Accounts Payable Turnover Ratio for the year ending December 31, 2021 was 9.06, a -2.18% change year over year.
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Nortech Systems Incorporated Accounts Payable Turnover Ratio for the year ending December 31, 2020 was 9.26, a 11.59% change year over year.
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Nortech Systems Incorporated Accounts Payable Turnover Ratio for the year ending December 31, 2019 was 8.30, a 32.84% change year over year.
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NASDAQ: NSYS
| CEO | Mr. Jay Dean Miller |
| IPO Date | June 24, 1993 |
| Location | United States |
| Headquarters | 7550 Meridian Circle North, Maple Grove, MN, United States, 55369 |
| Employees | 733 |
| Sector | Healthcare |
| Industry | Medical devices |
Description
Nortech Systems Incorporated provides design and manufacturing solutions for electromedical devices, electromechanical systems, assemblies, and components in the United States, Mexico, and China. It offers a range of technical and manufacturing, and support services, including project management, designing, testing, prototyping, manufacturing, supply chain management, and post-market services. The company also provides manufacturing and engineering services for medical devices, printed circuit board assemblies, wire and cable assemblies, and higher-level electromechanical assemblies. In addition, it offers engineering and repair services. The company serves original equipment manufacturers in the medical, aerospace and defense, and industrial markets through business development teams and independent manufacturers' representatives. Nortech Systems Incorporated was founded in 1990 and is headquartered in Maple Grove, Minnesota.
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StockViz Staff
September 20, 2024
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