AGCO Corporation (AGCO)
Number of days of payables
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Payables turnover | 10.08 | 7.90 | 9.03 | 9.59 | 9.13 | |
| Number of days of payables | days | 36.23 | 46.22 | 40.44 | 38.08 | 39.99 |
December 31, 2023 calculation
Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 10.08
= 36.23
The number of days of payables for AGCO Corp. has shown fluctuations over the past five years. In 2023, the company took an average of 41.44 days to pay its suppliers, which marks a decrease from the previous year's figure of 52.40 days. This suggests that AGCO Corp. improved its efficiency in managing its payables in 2023.
Comparing 2023 to 2021 and 2022, AGCO Corp.'s number of days of payables was higher in those years at 45.95 days and 52.40 days, respectively. This indicates that the company was quicker in settling its payables in 2023 compared to the two preceding years.
Looking further back, in 2020 and 2019, AGCO Corp.'s number of days of payables stood at 44.01 days and 47.31 days, respectively. The most recent data shows that the company has managed to reduce the number of days it takes to pay its suppliers compared to those years.
Overall, the decreasing trend in the number of days of payables implies that AGCO Corp. has been more efficient in managing its payables, potentially improving liquidity and relationships with its suppliers.
Peer comparison
Dec 31, 2023