Enphase Energy Inc (ENPH)

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		10.61	16.54	19.83	14.05	10.84	12.84	11.46	8.72	7.27	7.82	7.23	5.92	5.90	8.68	18.63	13.35	7.01	5.52	4.13	4.51
Number of days of payables	days	34.40	22.07	18.41	25.98	33.66	28.43	31.85	41.87	50.17	46.67	50.52	61.69	61.86	42.07	19.60	27.34	52.04	66.12	88.41	80.88

December 31, 2023 calculation

Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 10.61
= 34.40

The number of days of payables for Enphase Energy Inc has generally shown a decreasing trend from Q1 2022 to Q2 2023. This could imply that the company is taking fewer days to pay its suppliers, which may indicate improved liquidity or more efficient management of payables.

In Q1 2022, the number of days of payables was highest at 41.87 days, which then decreased to 18.41 days in Q2 2023, reflecting a significant improvement. This downward trend suggests that Enphase Energy Inc is managing its payables more efficiently, potentially freeing up cash flow for other strategic purposes.

Analyzing the quarterly fluctuations, we see some variability in the number of days of payables, with Q4 generally exhibiting higher values compared to the other quarters. This could indicate seasonal variations in the company's payment patterns or differences in the timing of supplier payments throughout the year.

Overall, a decreasing trend in the number of days of payables indicates a positive sign for Enphase Energy Inc's financial health and working capital management. However, it is essential to consider other financial metrics and industry benchmarks to gain a comprehensive understanding of the company's financial performance.