Dover Corporation (DOV)
Number of days of payables
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Payables turnover | 7.60 | 6.85 | 6.33 | 6.95 | 4.90 | |
| Number of days of payables | days | 48.04 | 53.28 | 57.67 | 52.52 | 74.41 |
December 31, 2023 calculation
Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 7.60
= 48.04
The number of days of payables for Dover Corp. has exhibited some fluctuation over the past five years. In 2023, the number of days of payables decreased to 65.35 days from 71.61 days in 2022. This indicates that the company took fewer days to pay its suppliers in 2023 compared to the previous year.
Looking further back, there was a notable increase in the number of days of payables from 2019 to 2021, peaking at 79.37 days in 2021 compared to 79.48 days in 2019. This suggests that Dover Corp. took longer to settle its payables during these years.
Overall, a lower number of days of payables is generally considered favorable as it indicates that the company is managing its payables efficiently by taking fewer days to pay its suppliers. The trend of decreasing days of payables from 2022 to 2023 may be a positive signal that the company is improving its working capital management by being more efficient in paying its bills.
Peer comparison
Dec 31, 2023