FirstEnergy Corporation (FE)
Number of days of payables
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Payables turnover | 1.27 | 1.25 | 1.68 | 1.79 | 1.72 | |
| Number of days of payables | days | 288.02 | 290.88 | 217.71 | 203.41 | 212.61 |
December 31, 2023 calculation
Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 1.27
= 288.02
Firstenergy Corp.'s number of days of payables has fluctuated over the past five years. In 2023, it took the company an average of 107 days to pay off its payables, showing an improvement from 119.44 days in 2022. This indicates that Firstenergy Corp. has been managing its payables more efficiently in the most recent year. However, the number of days of payables in 2023 was slightly higher compared to 2021 when it was 99.91 days, suggesting a slight deterioration in payables management.
Overall, the company's number of days of payables has shown some variability but generally remains within a similar range over the past five years. It is important for Firstenergy Corp. to continue monitoring and managing its payables effectively to maintain a healthy cash flow position and relationships with its suppliers.
Peer comparison
Dec 31, 2023