CONMED Corporation (CNMD)

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		6.44	6.63	6.74	6.63	6.46	6.38	6.17	6.59	7.61	9.48	7.89	7.38	7.54	7.13	10.22	7.46	7.69	9.10	7.93	7.25
Number of days of payables	days	56.64	55.07	54.16	55.09	56.49	57.24	59.16	55.37	47.99	38.50	46.24	49.47	48.38	51.20	35.71	48.90	47.47	40.11	46.03	50.36

December 31, 2023 calculation

Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 6.44
= 56.64

Conmed Corp.'s number of days of payables has shown a relatively steady trend over the past eight quarters. The company's average number of days of payables for Q4 2023 stood at 56.64 days, up slightly from the previous quarter of 55.07 days in Q3 2023. Comparing with the same quarter of the previous year, the number of days of payables has decreased from 56.49 days in Q4 2022.

Overall, Conmed Corp. has been effectively managing its payables, with the number of days remaining within a relatively consistent range over the past two years. It indicates that the company is maintaining a healthy balance between managing its payment obligations and optimizing its cash flow. However, a slight increase in the number of days of payables in the latest quarter may warrant further monitoring to ensure efficient working capital management.