Enovis Corp (ENOV)
Number of days of payables
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Payables turnover | 13.72 | 13.04 | 24.92 | 9.60 | 9.36 | |
| Number of days of payables | days | 26.61 | 27.99 | 14.64 | 38.04 | 38.99 |
December 31, 2023 calculation
Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 13.72
= 26.61
The number of days of payables for Enovis Corp has shown variability over the past five years. In 2023, the company took an average of 67.49 days to pay its suppliers, which was a decrease from the previous year's figure of 71.36 days. This suggests that in 2023, Enovis was able to manage its accounts payable more efficiently.
Comparing to 2021 and 2020, where the number of days of payables were 82.13 days and 67.62 days respectively, there was a significant increase in 2021 and a stable level in 2020. This indicates that the company's payment practices were less favorable in 2021 but improved in 2020.
In general, Enovis Corp's number of days of payables has fluctuated within a relatively narrow range over the past five years, indicating a moderate level of consistency in managing its accounts payable. It is important for the company to continue monitoring and optimizing its payables management to ensure efficient working capital utilization and maintain good relationships with its suppliers.
Peer comparison
Dec 31, 2023