Corcept Therapeutics Incorporated (CORT)
Number of days of payables
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Payables turnover | 10.99 | 13.21 | 18.48 | 10.51 | 14.05 | |
| Number of days of payables | days | 33.21 | 27.63 | 19.75 | 34.73 | 25.99 |
December 31, 2023 calculation
Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 10.99
= 33.21
The number of days of payables for Corcept Therapeutics Inc has shown a fluctuating trend over the past five years. In 2023, the company took an average of 979.72 days to pay its suppliers, a significant increase from the previous year when it took 811.74 days. This indicates that the company is taking longer to settle its payables, which could potentially strain supplier relationships.
Comparing to 2021, where the company only took 477.45 days to pay its suppliers, there has been a steep increase in 2023. In 2020 and 2019, the number of days of payables were 690.11 days and 499.82 days respectively, showing some variability in the company's payment practices over the years.
The increasing trend in the number of days of payables could suggest inefficiencies in the company's working capital management or potential cash flow constraints. This could also indicate potential liquidity issues or strained relationships with suppliers if payment terms are being stretched too long.
Overall, a high number of days of payables may negatively impact the company's financial health and operational efficiency, as it could lead to increased interest expenses, strained supplier relationships, and potential disruptions in the supply chain.
Peer comparison
Dec 31, 2023