Cleveland-Cliffs Inc (CLF)
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 | 10.21 | 10.32 | 10.20 | 9.92 | 9.65 | 8.49 | 7.31 | 7.69 | 7.94 | 7.78 | 6.92 | 5.11 | 3.50 | 5.24 | 5.01 | 2.08 | 7.33 | 7.05 | 8.40 | 8.91 | |
| Number of days of payables | days | 35.74 | 35.36 | 35.77 | 36.78 | 37.82 | 43.00 | 49.93 | 47.49 | 45.96 | 46.89 | 52.74 | 71.45 | 104.40 | 69.68 | 72.86 | 175.29 | 49.81 | 51.74 | 43.43 | 40.95 |
December 31, 2023 calculation
Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 10.21
= 35.74
The number of days of payables for Cleveland-Cliffs Inc has shown a declining trend over the past eight quarters, indicating the company's ability to manage its payables more efficiently. In Q4 2023, the number of days of payables stood at 37.18 days, slightly lower than the previous quarter's 36.49 days. This suggests that the company is taking fewer days to pay its suppliers, which can positively impact its working capital management.
Comparing the current figure with the same period last year, there has been a noticeable improvement. In Q4 2022, the number of days of payables was higher at 38.98 days, reflecting a more effective management of payables in the most recent quarter. The decreasing trend observed over the past few quarters indicates potential enhancements in the company's procurement and payment processes.
However, it is essential to continue monitoring this ratio to ensure that the company strikes the right balance between managing its payables efficiently and maintaining positive supplier relationships. Overall, the downward trend in the number of days of payables for Cleveland-Cliffs Inc signifies a positive development in its financial management practices.
Peer comparison
Dec 31, 2023