Cleveland-Cliffs Inc (CLF)
Number of days of payables
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Payables turnover | 10.22 | 9.66 | 7.95 | 3.50 | 7.33 | |
| Number of days of payables | days | 35.72 | 37.79 | 45.93 | 104.31 | 49.81 |
December 31, 2023 calculation
Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 10.22
= 35.72
The number of days of payables for Cleveland-Cliffs Inc has exhibited a decreasing trend over the past five years. Specifically, the company's days of payables have decreased from 49.86 days at the end of 2019 to 37.18 days at the end of 2023. This decrease indicates that the company is taking fewer days to pay its trade payables, suggesting improved liquidity or potentially more favorable payment terms with its suppliers. It is worth noting a significant drop from 112.68 days at the end of 2020 to 47.56 days at the end of 2021, indicating a major improvement in managing its payables. Overall, the decreasing trend in days of payables is a positive sign for Cleveland-Cliffs Inc as it may reflect better working capital management and financial health.
Peer comparison
Dec 31, 2023