AdvanSix Inc (ASIX)
Number of days of payables
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Payables turnover | 5.67 | 6.32 | 6.75 | 5.76 | 6.07 | |
| Number of days of payables | days | 64.41 | 57.79 | 54.04 | 63.37 | 60.18 |
December 31, 2023 calculation
Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 5.67
= 64.41
The number of days of payables for AdvanSix Inc has shown some fluctuations over the past five years. In 2023, the company took an average of 69.10 days to pay its trade payables, which is an increase from 61.04 days in 2022. This suggests that the company took longer to settle its payables in 2023 compared to the prior year.
Comparing the current year to previous years, the number of days of payables was higher in 2020 with 67.79 days and in 2019 with 64.68 days, indicating that the company was taking a longer time to pay its trade payables during those years as well.
In contrast, the number of days of payables was lowest in 2021 with 57.25 days, indicating that the company was more efficient in managing its payables during that period.
Overall, the trend in the number of days of payables for AdvanSix Inc shows some variability, with the company taking longer to pay its trade payables in certain years compared to others. This metric can provide insights into the company's liquidity management and relationships with its suppliers.
Peer comparison
Dec 31, 2023