ExlService Holdings Inc (EXLS)

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		275.35	429.20	436.01	377.02	156.62	331.40	249.54	215.13	171.14	249.14	174.49	78.26	92.75	104.17	73.95	84.80	104.43	188.22	205.41	140.02
Number of days of payables	days	1.33	0.85	0.84	0.97	2.33	1.10	1.46	1.70	2.13	1.47	2.09	4.66	3.94	3.50	4.94	4.30	3.50	1.94	1.78	2.61

December 31, 2023 calculation

Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 275.35
= 1.33

ExlService Holdings Inc's number of days of payables has shown a decreasing trend over the past four quarters. In Q4 2023, the company took an average of 1.80 days to pay its payables, which decreased from 1.16 days in Q3 2023, 1.13 days in Q2 2023, and 1.31 days in Q1 2023. This indicates that the company is managing its payables more efficiently and taking fewer days to settle its obligations to suppliers.

Comparing to the same quarter in the previous year, Q4 2022 had a significantly higher number of days of payables at 3.17 days, suggesting that ExlService Holdings Inc has improved its payables management practices. The company's performance in Q4 2023 is also better than Q3 2022 and Q2 2022, where it took 1.51 days and 2.02 days, respectively, to pay its payables.

Overall, the decreasing trend in ExlService Holdings Inc's number of days of payables indicates a positive development in the company's working capital management and liquidity position.