ChampionX Corporation (CHX)
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 | 5.80 | 5.32 | 5.15 | 5.40 | 6.19 | 5.65 | 5.28 | 4.85 | 4.92 | 5.24 | 5.46 | 5.50 | 4.97 | 4.30 | 2.93 | 6.19 | 6.27 | 6.88 | 6.26 | 6.52 | |
| Number of days of payables | days | 62.96 | 68.60 | 70.85 | 67.54 | 58.95 | 64.61 | 69.15 | 75.27 | 74.13 | 69.70 | 66.83 | 66.42 | 73.37 | 84.96 | 124.67 | 58.93 | 58.22 | 53.05 | 58.32 | 55.95 |
December 31, 2023 calculation
Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 5.80
= 62.96
To evaluate ChampionX Corp.'s number of days of payables over the past eight quarters, we observe a general trend of fluctuation but with a slight increase over the most recent quarters. The number of days of payables has ranged from a low of 58.95 days in Q4 2022 to a high of 75.27 days in Q1 2022.
The company's ability to pay its suppliers within a given period has varied, with Q1 and Q2 of 2023 having the highest number of days of payables, indicating a longer time taken to settle payables. This may suggest potential liquidity challenges or changes in payment terms with suppliers during those periods.
Conversely, in Q4 2022, the number of days of payables decreased to 58.95 days, which could imply more efficient management of payables or improved cash flow during that quarter.
Overall, it is crucial for ChampionX Corp. to closely monitor its payables management to ensure a balance between timely payments and optimizing cash flow efficiency. Further analysis in conjunction with other financial metrics would provide a more comprehensive understanding of the company's financial health and operational efficiency.
Peer comparison
Dec 31, 2023