Fastenal Company (FAST)
Number of days of payables
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Payables turnover | 22.07 | 21.72 | 20.61 | 21.82 | 22.21 | |
| Number of days of payables | days | 16.54 | 16.81 | 17.71 | 16.73 | 16.44 |
December 31, 2023 calculation
Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 22.07
= 16.54
Fastenal Co.'s number of days of payables has shown a decreasing trend over the past five years. The company took an average of 24.15 days to pay its payables in 2023, compared to 24.72 days in 2022, 26.31 days in 2021, 24.53 days in 2020, and 24.97 days in 2019. This indicates that Fastenal Co. has been managing its payables more efficiently over time, taking fewer days to settle its outstanding obligations. This trend suggests that the company may have implemented better cash management practices or negotiated more favorable payment terms with its suppliers, which can have a positive impact on its working capital management and overall financial health.
Peer comparison
Dec 31, 2023