Crown Holdings Inc (CCK)
Number of days of payables
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Payables turnover | 4.62 | 4.44 | 4.22 | 5.14 | 3.72 | |
| Number of days of payables | days | 78.99 | 82.27 | 86.53 | 71.00 | 98.16 |
December 31, 2023 calculation
Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 4.62
= 78.99
The number of days of payables for Crown Holdings, Inc. has fluctuated over the past five years. As of December 31, 2023, the company had an average payment period of 94.02 days, which decreased compared to the previous year. This indicates that the company takes approximately 94 days to pay its accounts payable.
In 2022, the number of days of payables was slightly higher at 95.10 days, but it decreased significantly from 117.27 days in 2021. The downward trend in the number of days of payables suggests that Crown Holdings, Inc. has been able to manage its payables more efficiently over the last few years.
Comparing the data to 2020 and 2019, where the number of days of payables was 113.09 days and 103.30 days respectively, we observe a general improvement in the company's ability to settle its payables faster.
Overall, the decreasing trend in the number of days of payables indicates that Crown Holdings, Inc. has been enhancing its payables management efficiency, potentially optimizing cash flows and relationships with suppliers.
Peer comparison
Dec 31, 2023