CTS Corporation (CTS)

Number of days of payables

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Payables turnover		8.27	7.39	7.13	7.06	7.07	5.62	5.72	5.60	5.91	6.63	6.80	5.64	5.64	6.01	8.61	6.51	6.46	6.45	6.10	5.81
Number of days of payables	days	44.16	49.41	51.21	51.67	51.61	64.99	63.80	65.22	61.74	55.04	53.64	64.72	64.66	60.71	42.37	56.04	56.51	56.57	59.85	62.79

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 shown a varying trend over the past eight quarters. In Q4 2023, the company had 44.16 days of payables, which was lower compared to the previous quarter, indicating that the company took less time to pay its suppliers. This decrease suggests effective management of payables or potentially negotiating better terms with suppliers.

Looking back at the trend, the number of days of payables has been fluctuating, with Q2 2022 having the highest number of days at 65.22 days. This indicates that during that period, CTS Corp. took longer to pay its suppliers, which could have led to cash flow challenges or strained relationships with vendors.

Overall, CTS Corp.'s number of days of payables has shown variability, with some quarters indicating a more efficient management of payables while others reflect a longer payment cycle. It is essential for the company to monitor this metric closely to ensure optimal cash flow management and maintain healthy supplier relationships.