Cytek Biosciences Inc (CTKB)
Number of days of payables
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | ||
|---|---|---|---|---|
| Payables turnover | 27.57 | 13.12 | -25.37 | |
| Number of days of payables | days | 13.24 | 27.81 | — |
December 31, 2023 calculation
Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 27.57
= 13.24
In analyzing Cytek Biosciences Inc's number of days of payables, we observe a significant decrease in the number of days it takes the company to pay its suppliers over the three-year period.
As of December 31, 2023, Cytek Biosciences Inc took an average of 13.24 days to settle its payables, showing a notable improvement from the previous year's 27.81 days. This indicates that the company has been managing its payables more efficiently and timely in 2023 compared to 2022.
Notably, there is missing data for December 31, 2021, which would have provided a complete trend analysis. However, based on the available information, it is evident that Cytek Biosciences Inc has made significant progress in optimizing its payables management, potentially improving its cash flow and relationships with suppliers.
Peer comparison
Dec 31, 2023