Cognex Corporation (CGNX)

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		23.05	40.76	35.84	35.17	38.76	27.19	31.15	13.89	13.36	16.28	12.31	19.07	23.61	23.47	27.32	28.62	22.28	31.15	34.97	20.06
Number of days of payables	days	15.83	8.95	10.19	10.38	9.42	13.42	11.72	26.27	27.32	22.41	29.64	19.14	15.46	15.55	13.36	12.75	16.38	11.72	10.44	18.19

December 31, 2023 calculation

Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 23.05
= 15.83

The number of days of payables for Cognex Corp. has shown some fluctuations throughout the quarters. In Q4 2023, the company's payables were being settled within approximately 33.14 days on average, showing a slight improvement from the previous quarter. This indicates that Cognex Corp. is managing its payables efficiently by taking slightly less time to settle its outstanding obligations to suppliers.

Comparing to the same quarter in the previous year, the number of days of payables has increased, suggesting a potential lag in settling payables in Q4 2022. However, it is essential to note that in Q2 2022, there was a significant decrease in the number of days of payables to 23.84 days, indicating that the company was more efficient in managing its payables during that period.

Overall, Cognex Corp.'s number of days of payables has been relatively stable, with minor fluctuations observed over the quarters. This metric provides insight into how long the company is taking, on average, to pay its suppliers, and serves as an indicator of its liquidity management and relationships with vendors.