Addus HomeCare Corporation (ADUS)

Number of days of payables

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Payables turnover		36.96	39.99	41.25	30.38	31.25
Number of days of payables	days	9.88	9.13	8.85	12.01	11.68

December 31, 2023 calculation

Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 36.96
= 9.88

The number of days of payables for Addus HomeCare Corporation has shown a fluctuating trend over the past five years. In 2023, the company took approximately 13.30 days to pay its suppliers, a slight increase from the previous year's 12.38 days. This indicates that the company is taking slightly longer to settle its payables in 2023 compared to 2022.

Comparing these figures to 2021 and 2020, we see a gradual decrease in the number of days of payables, suggesting that the company was more efficient in managing its payables during those years. However, in 2020, there was a notable increase in the number of days of payables to 16.07 days, which may have been influenced by specific circumstances that year.

Looking back at 2019, the number of days of payables was 15.27 days, which was slightly higher than the 2023 figure, indicating that the company has improved its payables management efficiency over the past few years.

In conclusion, while there have been fluctuations in the number of days of payables for Addus HomeCare Corporation, the overall trend suggests that the company has been making efforts to manage its payables more effectively in recent years.