Quest Diagnostics Incorporated (DGX)
Number of days of payables
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Payables turnover | 16.40 | 19.91 | 18.43 | 13.01 | 19.15 | |
| Number of days of payables | days | 22.26 | 18.33 | 19.81 | 28.05 | 19.06 |
December 31, 2023 calculation
Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 16.40
= 22.26
Quest Diagnostics, Inc.'s number of days of payables has shown some fluctuation over the past five years. In 2023, the number of days of payables increased to 22.26 days, up from 18.33 days in 2022. This indicates that the company took longer to pay its suppliers in 2023 compared to the previous year.
Although the number of days of payables in 2023 increased, it was still lower than the 28.05 days recorded in 2020. This suggests that Quest Diagnostics improved its payable turnover efficiency in 2023 compared to 2020.
Overall, Quest Diagnostics' number of days of payables has shown variability in recent years, which can be influenced by factors such as changes in payment terms with suppliers, changes in the company's purchasing and inventory management practices, and overall business conditions. Further analysis would be needed to understand the underlying reasons for these fluctuations and their implications for the company's working capital management.
Peer comparison
Dec 31, 2023