Chesapeake Utilities Corporation (CPK)
Number of days of payables
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Payables turnover | 1.57 | 1.69 | 1.79 | 1.49 | 1.60 | |
| Number of days of payables | days | 232.21 | 215.68 | 203.92 | 244.68 | 227.41 |
December 31, 2023 calculation
Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 1.57
= 232.21
The number of days of payables for Chesapeake Utilities Corp has shown variability over the past five years. In 2023, the company took approximately 130.64 days to pay its suppliers, which is significantly higher compared to the previous year (86.16 days). This indicates that the company may be taking longer to settle its payables in 2023.
In 2021, the number of days of payables decreased to 102.75 days from 159.44 days in 2020, suggesting that the company improved its payment efficiency in managing its trade payables during that period.
Overall, fluctuations in the number of days of payables can provide insights into the company's liquidity management and relationship with suppliers. It is important to assess the trend over multiple years to understand if there are any consistent patterns or changes in the company's payment practices.
Peer comparison
Dec 31, 2023