Dril-Quip Inc (DRQ)

Number of days of payables

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Payables turnover		4.70	5.62	4.84	5.66	6.18	5.61	5.57	6.82	6.88	6.13	5.24	6.63	7.21	5.50	4.93	5.96	6.37	6.39	8.30	14.01
Number of days of payables	days	77.73	64.99	75.38	64.43	59.04	65.11	65.53	53.53	53.06	59.53	69.60	55.09	50.65	66.42	74.05	61.21	57.31	57.09	43.98	26.04

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 some fluctuations over the past eight quarters. In Q4 2023, the number of days of payables increased to 77.73 days compared to the previous quarter where it was 64.99 days. This indicates that the company took longer to settle its payables in Q4 2023.

Looking at a longer trend, compared to the same quarter last year (Q4 2022), the current number of days of payables has increased from 59.04 days to 77.73 days. This suggests that Dril-Quip, Inc. is taking more time to pay its suppliers compared to the previous year.

Analyzing the data further, the number of days of payables has generally been above 60 days in the past eight quarters, indicating that the company typically takes more than two months to pay its outstanding obligations. This could imply that Dril-Quip, Inc. may have negotiating power with its suppliers or could be utilizing its payables effectively to manage cash flow.

It is essential for investors and stakeholders to monitor changes in the number of days of payables to understand how efficiently Dril-Quip, Inc. is managing its working capital and vendor relationships.