Compass Minerals International Inc (CMP)

Number of days of payables

		Mar 31, 2024	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	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		4.13	3.07	1.57	1.81	1.53	1.58	1.61	1.87	3.59	3.95	4.82	3.95	2.11	1.74	1.94	1.86	1.63	1.30	1.38	3.74
Number of days of payables	days	88.31	118.90	232.71	201.30	239.24	230.85	226.18	194.98	101.76	92.29	75.71	92.35	172.97	209.78	188.34	196.06	223.39	280.75	265.28	97.70

March 31, 2024 calculation

Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 4.13
= 88.31

The number of days of payables for Compass Minerals International Inc has exhibited fluctuations over the past few quarters. As of March 31, 2024, the company takes approximately 88.31 days to pay its payables, which indicates an efficient management of its accounts payable. This is a significant improvement from the previous quarter where the number of days of payables was 118.90 days.

Looking further back, the trend shows variability with numbers ranging from as low as 75.71 days to as high as 280.75 days in the recent past. This variability could be attributed to changes in the company's payment terms, supplier relationships, or fluctuations in operating cash flows.

Over the analyzed periods, the company seems to have been successful in managing its payables effectively, with some periods indicating a faster turnaround in settling obligations than others. Going forward, it would be essential to monitor this metric to ensure efficient working capital management and vendor relationships.