Adient PLC (ADNT)

Number of days of payables

		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
Payables turnover		5.91	5.69	5.39	5.16	5.56	5.37	5.37	5.05	5.54	6.03	6.43	5.11	5.35	5.54	8.49	6.66	6.14	5.80	5.81	5.63
Number of days of payables	days	61.79	64.20	67.77	70.76	65.61	67.93	67.96	72.29	65.88	60.48	56.73	71.38	68.27	65.85	43.01	54.84	59.44	62.88	62.81	64.78

December 31, 2023 calculation

Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 5.91
= 61.79

To analyze Adient plc's number of days of payables, we observe a decreasing trend from Q2 2022 to Q4 2023. In Q2 2022, the number of days of payables was at its highest, at 72.29 days, and has since decreased to 64.20 days in Q4 2023. This downward trend indicates that Adient plc is taking fewer days to pay its suppliers and vendors, which may signify improved liquidity management and potentially stronger supplier relationships.

However, it is important to note that in Q1 2024, there was a slight uptick in the number of days of payables to 61.79 days, which could suggest a temporary delay in payments or a shift in the company's payment strategies.

Overall, monitoring the number of days of payables can provide insights into a company's efficiency in managing its accounts payable and cash flow, as well as its relationships with suppliers. In the case of Adient plc, the recent fluctuations in this metric highlight the importance of ongoing analysis and attention to changes in payment practices.