CMS Energy Corporation (CMS)

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		—	—	—	1.94	1.44	1.38	1.30	1.53	1.16	1.30	1.42	1.62	1.27	1.21	1.30	1.78	1.43	1.51	1.46	1.87
Number of days of payables	days	—	—	—	188.18	253.34	263.81	280.48	238.36	313.42	281.62	256.43	224.94	288.25	302.79	281.01	205.34	255.38	242.25	249.84	194.86

December 31, 2023 calculation

Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ —
= —

The number of days of payables for CMS Energy Corporation has fluctuated over the past eight quarters, ranging from a low of 61.13 days in Q1 2023 to a high of 101.37 days in Q4 2023. Generally, the company takes around 80 to 90 days on average to pay its creditors.

In Q4 2023, the number of days of payables increased significantly to 101.37 days, indicating a slower payment cycle compared to the previous quarters. This could suggest that CMS Energy may be taking longer to settle its outstanding obligations to suppliers and vendors, which could potentially strain its cash flow if not managed efficiently.

On the other hand, in Q1 2023, the number of days of payables decreased to 61.13 days, which suggests that the company improved its payment cycle during that period, perhaps by optimizing its working capital management or negotiating better payment terms with suppliers.

Analyzing trends in the number of days of payables can provide insights into CMS Energy's liquidity position, operational efficiency, and relationships with suppliers. It is essential for investors and stakeholders to monitor these metrics to assess the company's financial health and management of its payables.