American Axle & Manufacturing (AXL)
Number of days of payables
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Payables turnover | 7.05 | 6.94 | 7.24 | 7.13 | 9.03 | |
| Number of days of payables | days | 51.78 | 52.56 | 50.45 | 51.19 | 40.43 |
December 31, 2023 calculation
Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 7.05
= 51.78
The number of days of payables for American Axle & Manufacturing Holdings Inc has shown a relatively stable trend over the past five years. In 2023, the company took approximately 51.78 days, on average, to pay its suppliers, which was slightly lower compared to the previous year.
The consistency in the number of days of payables indicates that the company has been effectively managing its accounts payable obligations. A stable or decreasing trend in this ratio suggests that the company is maintaining good relationships with its suppliers by paying them on time or even earlier in some cases.
Overall, the number of days of payables for American Axle & Manufacturing Holdings Inc reflects a prudent approach towards managing its payables, which is important for maintaining strong supplier relationships and managing cash flow effectively.
Peer comparison
Dec 31, 2023