CVR Energy Inc (CVI)
Number of days of payables
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Payables turnover | 15.05 | 19.65 | 17.17 | 14.61 | 13.74 | |
| Number of days of payables | days | 24.26 | 18.58 | 21.25 | 24.99 | 26.56 |
December 31, 2023 calculation
Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 15.05
= 24.26
The number of days of payables for CVR Energy Inc has shown fluctuations over the past five years. As of December 31, 2023, the company took approximately 27.58 days to pay its payables, which represents an increase from the previous year's level of 20.69 days. This indicates that the company's payment period to suppliers has extended, possibly requiring more time to settle its obligations.
Comparing the current figure to historical data, the number of days of payables in 2023 is slightly below the level observed in 2021 (24.14 days) but higher than in 2020 (30.52 days) and 2019 (31.00 days). This suggests some variability in the company's payment practices over the years.
Analyzing the trend, it can be noted that there was a decrease in the number of days of payables from 2020 to 2021, followed by an increase in 2022 and 2023. Further examination of the company's financial performance and liquidity position is recommended to understand the factors driving these changes and their implications for CVR Energy Inc.
Peer comparison
Dec 31, 2023