Dril-Quip Inc (DRQ)

Number of days of payables

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Payables turnover		4.70	6.18	6.88	7.21	6.37
Number of days of payables	days	77.73	59.04	53.06	50.65	57.31

December 31, 2023 calculation

Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 4.70
= 77.73

Dril-Quip, Inc.'s number of days of payables has shown an increasing trend over the past five years. The number of days of payables increased from 57.31 days in 2019 to 77.73 days in 2023. This indicates that the company is taking longer to pay its suppliers and manage its accounts payable. A higher number of days of payables could suggest that Dril-Quip, Inc. is taking advantage of trade credit terms or might be facing liquidity constraints, which could potentially strain its cash flow position. It is essential for the company to monitor and manage its payables effectively to maintain good relationships with suppliers and ensure the sustainability of its operations.