Albemarle Corp (ALB)

Number of days of payables

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Payables turnover		—	2.77	3.88	4.42	4.06
Number of days of payables	days	—	131.85	94.07	82.65	89.88

December 31, 2023 calculation

Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ —
= —

The number of days of payables for Albemarle Corp. has shown fluctuations over the past five years. As of December 31, 2023, the company took approximately 90.39 days to pay its creditors on average. This represents a significant improvement compared to the previous year, where the number of days of payables was notably higher at 176.42 days.

In 2021, Albemarle Corp. had an average payment period of 101.51 days, indicating some stability in managing its payables compared to the prior year. The year 2020 saw a decrease in the number of days of payables to 82.65 days, suggesting a more efficient payment cycle.

However, in 2019, the company took around 89.88 days on average to settle its payables. Overall, Albemarle Corp.'s management of payables has been somewhat inconsistent over the past five years, with fluctuations in the number of days required to pay its creditors. It is important to monitor this ratio in conjunction with other financial metrics to assess the company's liquidity and operational efficiency.