Albany International Corporation (AIN)
Number of days of payables
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Payables turnover | 10.86 | 11.78 | 10.46 | 14.41 | 10.07 | |
| Number of days of payables | days | 33.62 | 30.99 | 34.89 | 25.33 | 36.26 |
December 31, 2023 calculation
Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 10.86
= 33.62
Albany International Corp.'s number of days of payables has shown fluctuations over the last five years. In 2023, the company took approximately 43.90 days to pay its suppliers, which is higher compared to the previous year at 39.44 days. This suggests that in 2023, Albany International Corp. took longer to settle its payables.
When compared to 2021 and 2020, where the number of days of payables was 45.69 days and 33.89 days respectively, the company managed to improve its payables turnover efficiency in 2023. However, it was not as efficient in managing payables as in 2019 when it took 36.26 days to settle its obligations.
Overall, a higher number of days of payables may indicate that the company is taking longer to pay its suppliers, possibly to improve its working capital position or manage cash flow. Investors and creditors may monitor this metric to assess the company's payment practices and financial health.