Franklin Electric Co Inc (FELE)
Number of days of payables
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Payables turnover | 11.94 | 12.95 | 9.03 | 11.74 | 14.49 | |
| Number of days of payables | days | 30.57 | 28.18 | 40.44 | 31.08 | 25.19 |
December 31, 2023 calculation
Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 11.94
= 30.57
The number of days of payables for Franklin Electric Co., Inc. has shown varying trends over the past five years. In 2023, the number of days of payables increased to 40.66 days from 37.59 days in 2022, indicating that the company took longer to pay its creditors compared to the previous year.
Looking back, the number of days of payables was highest in 2021 at 55.39 days, suggesting that the company was taking more time to settle its payables that year. This was followed by a decrease in 2022 and a subsequent increase in 2023.
In comparison, the number of days of payables was relatively lower in 2019 at 34.01 days, which indicates that the company was paying its creditors more promptly that year.
Overall, the trend in the number of days of payables for Franklin Electric Co., Inc. suggests fluctuations in the company's payment practices over the past five years. Further analysis of the underlying factors influencing these changes would be necessary to assess the company's liquidity management and relationship with its suppliers.
Peer comparison
Dec 31, 2023