Corteva Inc (CTVA)
Number of days of payables
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Payables turnover | 3.22 | 2.92 | 3.19 | 3.38 | 3.34 | |
| Number of days of payables | days | 113.37 | 124.84 | 114.51 | 107.85 | 109.44 |
December 31, 2023 calculation
Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 3.22
= 113.37
The number of days of payables for Corteva Inc has shown some fluctuations over the past five years. As of December 31, 2023, the company had 157.48 days of payables, which indicates that, on average, it takes Corteva approximately 157 days to pay off its trade payables.
Comparing this to the previous years, we can observe a slight decrease in the number of days of payables from 171.20 days in 2022 to 157.48 days in 2023. This could suggest that Corteva has been more efficient in managing its payable obligations in 2023 compared to the previous year.
Looking further back, we also see variations in the number of days of payables, with figures ranging from 155.10 days in 2020 to 163.34 days in 2021. These fluctuations may be influenced by factors such as changes in the company's payment terms, procurement strategies, or general economic conditions.
Overall, monitoring Corteva's number of days of payables provides insights into the company's liquidity management and relationships with suppliers. A decreasing trend in this ratio can indicate improved efficiency in managing payables, while an increasing trend may raise concerns about liquidity or supplier relationships.
Peer comparison
Dec 31, 2023