Chemed Corp (CHE)

Number of days of payables

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Payables turnover		29.22	41.51	23.91	31.69	31.92
Number of days of payables	days	12.49	8.79	15.26	11.52	11.43

December 31, 2023 calculation

Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 29.22
= 12.49

Chemed Corp.'s number of days of payables has fluctuated over the past five years. In 2023, the company took approximately 15.95 days to pay its suppliers, which increased from 11.16 days in 2022 but was lower compared to 2019 and 2021. This indicates that Chemed Corp. may be taking longer to settle its payables in 2023 compared to the previous year, which could potentially strain its relationships with suppliers or signal cash flow issues. However, it is important to consider industry norms and the company's specific circumstances when assessing the significance of this change.