Cencora Inc. (COR)
Number of days of payables
| Sep 30, 2023 | Sep 30, 2022 | Sep 30, 2021 | Sep 30, 2020 | Sep 30, 2019 | ||
|---|---|---|---|---|---|---|
| Payables turnover | 5.52 | 5.73 | 5.45 | 5.83 | 6.15 | |
| Number of days of payables | days | 66.07 | 63.70 | 67.01 | 62.65 | 59.39 |
September 30, 2023 calculation
Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 5.52
= 66.07
To analyze Cencora Inc.'s number of days of payables, we look at the trend over the past four years. The number of days of payables measures the average number of days it takes for the company to pay its suppliers and vendors.
From 2021 to 2023, Cencora Inc.'s number of days of payables has shown a relatively stable trend, with slight fluctuations. In 2021, the company took 67.01 days on average to pay its payables, which decreased to 63.70 days in 2022, indicating an improvement in payment efficiency. However, in 2023, the number of days of payables increased to 66.07 days compared to the previous year but remained relatively consistent with 2021 levels.
The increase in the number of days of payables in 2023 might suggest a slower pace in paying off its liabilities to suppliers. It's essential for the company to monitor and manage this metric effectively to ensure harmonious relationships with its suppliers, while also optimizing its working capital management.
Overall, although there has been some fluctuation, Cencora Inc.'s number of days of payables has remained within a relatively consistent range over the past three years, signaling a decent level of control over its payables management.
Peer comparison
Sep 30, 2023