Dominion Energy Inc (D)
Number of days of payables
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Payables turnover | 4.17 | 5.22 | 3.21 | 5.92 | 5.37 | |
| Number of days of payables | days | 87.61 | 69.94 | 113.54 | 61.64 | 68.03 |
December 31, 2023 calculation
Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 4.17
= 87.61
Dominion Energy Inc's number of days of payables have fluctuated over the past five years. In 2023, the company took approximately 78.64 days to pay its trade payables, representing an improvement compared to the previous year. This suggests that Dominion Energy Inc may be managing its accounts payable more efficiently.
In 2022 and 2021, the number of days of payables increased significantly to 124.46 days and 124.09 days respectively. This could indicate delays in settling trade payables, which may have been influenced by various factors such as changes in payment terms or the company's cash flow situation.
In 2020, the number of days of payables decreased to 108.18 days, showing some improvement compared to the two previous years but remaining relatively high. This could potentially signal a more conservative approach towards managing trade payables.
In 2019, Dominion Energy Inc took approximately 89.21 days to pay its payables, indicating a faster payment cycle compared to the subsequent years. This could imply a more efficient management of trade credit and liquidity during that period.
Overall, fluctuations in Dominion Energy Inc's number of days of payables suggest varying levels of efficiency or strategic decisions in managing its trade payables over the years. Further analysis and comparison with industry benchmarks may provide additional insights into the company's payables management practices.
Peer comparison
Dec 31, 2023