ChampionX Corporation (CHX)
Number of days of payables
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Payables turnover | 5.80 | 6.19 | 4.92 | 4.97 | 6.27 | |
| Number of days of payables | days | 62.96 | 58.95 | 74.13 | 73.37 | 58.22 |
December 31, 2023 calculation
Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 5.80
= 62.96
The number of days of payables for ChampionX Corp. has fluctuated over the past five years. In 2023, the company took an average of 62.96 days to pay its trade payables, which is higher compared to the previous year when it took 58.95 days. However, the number of days of payables in 2023 is still lower than the levels seen in 2021 and 2020, where it took 74.13 days and 73.37 days, respectively, to settle its payables.
Overall, ChampionX Corp.'s number of days of payables indicates the average number of days the company takes to pay off its trade creditors. A lower number suggests that the company is managing its payables efficiently, while a higher number may indicate that the company is taking longer to settle its obligations, which could impact its liquidity and relationships with suppliers. It is essential for the company to monitor and manage its payables effectively to maintain a healthy working capital position and supplier relationships.
Peer comparison
Dec 31, 2023