Advance Auto Parts Inc (AAP)
Number of days of payables
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Payables turnover | 2.68 | 2.51 | 2.60 | 2.58 | 2.65 | |
| Number of days of payables | days | 136.12 | 145.66 | 140.48 | 141.54 | 137.77 |
December 31, 2023 calculation
Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 2.68
= 136.12
Advance Auto Parts Inc's number of days of payables has shown a fluctuating trend over the last five years. In particular, the number of days of payables decreased to 136.12 days as of December 31, 2023, from 145.66 days in the previous year, indicating that the company takes approximately 136 days to pay its suppliers. This suggests that Advance Auto Parts Inc has improved its efficiency in managing its payables in the most recent period compared to the prior year. However, it is important to monitor this metric over time to assess the company's ability to effectively manage its payment obligations.
Peer comparison
Dec 31, 2023