Crescent Energy Co (CRGY)
Number of days of payables
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | ||
|---|---|---|---|---|
| Payables turnover | 2.58 | 2.38 | 0.99 | |
| Number of days of payables | days | 141.62 | 153.13 | 366.90 |
December 31, 2023 calculation
Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 2.58
= 141.62
The number of days of payables for Crescent Energy Co has shown a decreasing trend over the past three years. As of December 31, 2023, the company takes approximately 141.62 days to pay its accounts payable, a decrease from 153.13 days in 2022 and a significant improvement from 366.90 days in 2021. This suggests that Crescent Energy Co has been managing its accounts payable more efficiently, possibly negotiating better payment terms with its suppliers or streamlining its payment processes. A lower number of days of payables indicates that the company is able to settle its obligations more quickly, which can improve its liquidity position and overall financial health. It is essential to continue monitoring this ratio to ensure sustainable and effective management of the company's payables.
Peer comparison
Dec 31, 2023