Altair Engineering Inc (ALTR)
Number of days of payables
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Payables turnover | 44.44 | 38.67 | 56.83 | 39.19 | 15.45 | |
| Number of days of payables | days | 8.21 | 9.44 | 6.42 | 9.31 | 23.63 |
December 31, 2023 calculation
Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 44.44
= 8.21
Altair Engineering Inc's number of days of payables has shown fluctuating trends over the past five years. The company's ability to pay its suppliers within a certain timeframe has varied, with notable changes in the efficiency of managing its payables.
In 2023, Altair Engineering Inc took an average of 8.21 days to pay its suppliers, showing an improvement compared to the previous year where it took 9.44 days. This indicates that the company has become more efficient in managing its payables in 2023.
Looking back at 2021, the number of days of payables was at its lowest at 6.42 days, suggesting that the company was able to pay its suppliers more promptly during that period. However, in 2019, Altair Engineering Inc showed a significantly longer payment period of 23.63 days, indicating potential liquidity challenges or delays in managing its accounts payable.
Overall, the trend in Altair Engineering Inc's number of days of payables reflects variations in the company's ability to effectively manage its cash flow and vendor relationships over the years, with 2023 showing an improvement in efficiency compared to previous years.
Peer comparison
Dec 31, 2023