Chevron Corp (CVX)

Number of days of payables

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Payables turnover		6.21	8.02	5.82	5.51	6.86
Number of days of payables	days	58.74	45.49	62.74	66.22	53.22

December 31, 2023 calculation

Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 6.21
= 58.74

Chevron Corp.'s number of days of payables has exhibited fluctuations over the past five years. From 2019 to 2020, there was an increase in the number of days of payables from 64.25 days to 79.16 days, indicating that the company took longer to pay its suppliers. However, in the following years, there was a decrease in the number of days of payables, with the metric reaching 62.54 days at the end of 2023. This potentially suggests that Chevron Corp. has been managing its payables more efficiently in recent years, possibly negotiating better payment terms with its suppliers or improving its internal processes related to accounts payable. Overall, a lower number of days of payables can indicate better liquidity management, but it is essential to consider industry norms and the company's specific circumstances to draw meaningful conclusions.