Corteva Inc (CTVA)
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 | 3.23 | 3.78 | 4.19 | 3.62 | 2.92 | 3.40 | 3.86 | 3.65 | 3.19 | 3.43 | 3.81 | 3.76 | 3.20 | 3.84 | 4.00 | 3.83 | 3.75 | ||||
| Number of days of payables | days | 112.87 | 96.48 | 87.05 | 100.78 | 124.84 | 107.25 | 94.45 | 99.97 | 114.51 | 106.42 | 95.84 | 97.04 | 113.98 | 95.13 | 91.19 | 95.22 | 97.20 |
December 31, 2023 calculation
Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 3.23
= 112.87
Based on the quarterly data provided, Corteva Inc's number of days of payables has fluctuated over the past eight quarters. From Q1 2022 to Q4 2023, the number of days of payables ranged from a low of 119.78 days in Q2 2023 to a high of 171.20 days in Q4 2022.
The trend indicates that the number of days of payables has generally been decreasing over the past two years, suggesting that Corteva Inc has been taking less time to pay its suppliers. This could be due to improved cash flow management or more efficient payment processes.
However, it is important to note the quarterly fluctuations in the number of days of payables, which may be influenced by various factors such as seasonality in agricultural business, changes in supplier terms, or company-specific initiatives.
Overall, a decreasing trend in the number of days of payables is generally positive as it may indicate stronger working capital management and better relationships with suppliers. However, it is essential to monitor these metrics regularly to ensure they are in line with industry standards and company objectives.
Peer comparison
Dec 31, 2023