CTS Corporation (CTS)
Number of days of payables
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Payables turnover | 8.27 | 7.07 | 5.91 | 5.64 | 6.46 | |
| Number of days of payables | days | 44.16 | 51.61 | 61.74 | 64.66 | 56.51 |
December 31, 2023 calculation
Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 8.27
= 44.16
The number of days of payables for CTS Corp. has exhibited a decreasing trend over the past five years, indicating that the company is taking fewer days to pay off its suppliers. This trend suggests that CTS Corp. may be managing its payables more efficiently or negotiating more favorable payment terms with its suppliers.
In 2023, CTS Corp. took approximately 44.16 days to pay its suppliers, a decrease from 51.61 days in 2022, 61.74 days in 2021, 64.66 days in 2020, and 56.51 days in 2019. This improvement in the number of days of payables is a positive sign as it may lead to better cash flow management and potentially reduce the company's working capital requirements.
Overall, the decreasing trend in the number of days of payables for CTS Corp. indicates a more efficient management of the company's payment obligations towards its suppliers over the past five years.
Peer comparison
Dec 31, 2023