The Cheesecake Factory (CAKE)

Number of days of payables

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Payables turnover		19.59	11.90	11.25	17.77	23.23	36.93	36.20	33.46	35.95	36.05	31.92	26.88	26.15	24.43	26.65	30.26	26.65	43.45	43.27	42.59
Number of days of payables	days	18.63	30.68	32.43	20.53	15.71	9.88	10.08	10.91	10.15	10.12	11.44	13.58	13.96	14.94	13.69	12.06	13.70	8.40	8.44	8.57

December 31, 2023 calculation

Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 19.59
= 18.63

The number of days of payables for The Cheesecake Factory has varied over the past few quarters. In the most recent quarter as of December 31, 2023, the company took approximately 18.63 days to pay its suppliers. This is an increase from the previous quarter and is higher than the historical average for the company.

The trend in the number of days of payables indicates that The Cheesecake Factory has been taking longer to settle its payables in recent quarters. This could be a strategic decision to better manage cash flow or negotiate more favorable payment terms with suppliers. However, a significant increase in the number of days of payables may also raise concerns about the company's liquidity and ability to meet its obligations in a timely manner.

It will be essential for stakeholders to monitor this metric in future quarters to assess the impact of the company's payment practices on its financial health and working capital management.