Cognex Corporation (CGNX)

Number of days of payables

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Payables turnover		27.04	22.18	13.40	31.79	26.14
Number of days of payables	days	13.50	16.45	27.24	11.48	13.96

December 31, 2023 calculation

Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 27.04
= 13.50

The number of days of payables for Cognex Corp. has varied over the past five years. In 2023, the company took approximately 33.14 days on average to pay its suppliers, which is a decrease from the previous year. This suggests that Cognex improved its ability to manage its accounts payable efficiently.

In 2022, the number of days of payables was 34.81 days, showing a slight increase compared to 2021 when it was 57.99 days. The significant decrease in 2021 from the previous year indicates that the company was able to settle its payables faster, possibly through improved cash management or negotiation with suppliers.

In 2020, the days of payables were at 28.77 days, lower than the levels seen in 2019 when it stood at 34.37 days. This suggests that Cognex was able to extend its payment terms to suppliers in 2020 compared to the previous year.

Overall, the trend in the number of days of payables for Cognex Corp. shows fluctuations but indicates a general improvement in managing its accounts payable efficiently over the years. Maintaining a balance in paying suppliers promptly while optimizing cash flow is crucial for the company's financial health and relationships with its vendors.