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