Archrock Inc (AROC)
Number of days of payables
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Payables turnover | 9.41 | 8.48 | 12.34 | 19.67 | 10.66 | |
| Number of days of payables | days | 38.78 | 43.03 | 29.58 | 18.56 | 34.23 |
December 31, 2023 calculation
Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 9.41
= 38.78
The number of days of payables for Archrock Inc has shown some fluctuations over the past five years. In 2023, the company took an average of 49.61 days to pay off its accounts payable, which is a decrease from 55.97 days in 2022. This indicates that the company has been able to manage its payables more efficiently in the most recent year.
Compared to 2021 when the number of days of payables was 39.58 days, the current figure in 2023 is higher, suggesting a potential slowdown in paying suppliers. However, when looking back to 2020 and 2019, where the company took 29.82 days and 48.17 days respectively to settle its payables, it shows some variability in the management of accounts payable over the years.
Overall, the trend in the number of days of payables for Archrock Inc indicates some variability, with a general improvement in 2023 compared to the previous year, but still higher than the lower levels seen in 2020 and 2021.
Peer comparison
Dec 31, 2023