Astec Industries Inc (ASTE)
Number of days of payables
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Payables turnover | 11.08 | 11.60 | 13.12 | 18.71 | 19.99 | |
| Number of days of payables | days | 32.95 | 31.45 | 27.81 | 19.50 | 18.26 |
December 31, 2023 calculation
Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 11.08
= 32.95
The number of days of payables for Astec Industries Inc. has been on an increasing trend over the last five years. The company took an average of 42.36 days to pay its suppliers in 2023, compared to 38.73 days in 2022 and 36.05 days in 2021. This indicates that the company is taking longer to settle its payables, which could potentially strain its relationships with suppliers if the trend continues. Astec Industries Inc. should monitor this metric closely to ensure it maintains healthy and sustainable supplier relationships.
Peer comparison
Dec 31, 2023
Company name
Symbol
Number of days of payables
Astec Industries Inc
ASTE
32.95
Caterpillar Inc
CAT
67.47