Fox Factory Holding Corp (FOXF)
Number of days of payables
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Payables turnover | 12.32 | 10.12 | 10.80 | 8.21 | 11.20 | |
| Number of days of payables | days | 29.63 | 36.07 | 33.79 | 44.47 | 32.59 |
December 31, 2023 calculation
Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 12.32
= 29.63
The number of days of payables for Fox Factory Holding Corp has shown variability over the past five years. In 2023, the company took an average of 29.63 days to pay its suppliers, indicating an improvement from the previous year's figure of 36.07 days. This suggests a more efficient management of payables in 2023 compared to 2022. Looking further back, in 2021 and 2019, the number of days of payables was 33.79 days and 32.59 days respectively, indicating relatively stable payment practices during those years. However, in 2020, there was a significant increase to 44.47 days, indicating a potential delay in paying suppliers compared to the other years.
Overall, the trend in the number of days of payables for Fox Factory Holding Corp shows variability but with some improvements in 2023 compared to the previous year. It is important to monitor this ratio closely as it can reflect the company's liquidity management and relationships with suppliers.
Peer comparison
Dec 31, 2023