Chemed Corp (CHE)

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		29.22	32.89	44.51	44.27	41.51	22.30	23.26	26.90	23.91	28.97	31.01	31.17	31.69	43.78	46.23	43.81	31.92	35.83	30.21	38.29
Number of days of payables	days	12.49	11.10	8.20	8.25	8.79	16.37	15.69	13.57	15.26	12.60	11.77	11.71	11.52	8.34	7.90	8.33	11.43	10.19	12.08	9.53

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 demonstrated some fluctuations over the past eight quarters. In the most recent quarter, Q4 2023, the company took approximately 15.95 days to pay its outstanding payables. This represents an increase compared to the prior quarter, Q3 2023, where the number of days of payables was 14.16 days.

Looking further back, it is observed that the number of days of payables was relatively lower in Q2 and Q1 of 2023, at 10.40 days and 10.47 days respectively. This suggests that the company was able to manage its payables more efficiently during that period.

Comparing the data to the same quarters in 2022, Chemed Corp. seems to have improved its payables management, as the number of days of payables was higher in Q4 2022 (11.16 days), Q3 2022 (20.76 days), Q2 2022 (19.97 days), and Q1 2022 (17.30 days) as compared to the most recent quarters.

Overall, the trend in the number of days of payables for Chemed Corp. indicates varying levels of efficiency in managing its payables over the analyzed period, with some fluctuations but an improved performance in recent quarters.