Carrier Global Corp (CARR)
Number of days of payables
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|
| Payables turnover | 1.33 | 0.94 | 1.39 | 1.54 | |
| Number of days of payables | days | 275.18 | 387.14 | 262.29 | 236.89 |
December 31, 2023 calculation
Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 1.33
= 275.18
Carrier Global Corp's number of days of payables measures the average number of days it takes for the company to pay its suppliers or vendors. Looking at the trend over the past five years, we can see that the number of days of payables has fluctuated.
In 2019, the number of days of payables was 47.07 days, indicating that Carrier Global Corp took approximately 47 days to pay its suppliers on average. Over the following years, the number of days of payables increased to 57.23 days in 2020, 58.22 days in 2021, and further to 69.13 days in 2022. However, in 2023, there was a decrease to 63.69 days.
The upward trend in the number of days of payables from 2019 to 2022 suggests that Carrier Global Corp was taking longer to settle its payables over these years. This could indicate potential liquidity concerns or a deliberate extension of payment terms to suppliers. The decrease in 2023 may suggest an improvement in the company's payables management efficiency.
Overall, analyzing the number of days of payables provides insights into Carrier Global Corp's payment practices and its relationships with suppliers over the years.
Peer comparison
Dec 31, 2023