First Solar Inc (FSLR)

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		9.74	20.79	10.11	9.20	7.47	12.05	13.17	13.20	11.34	11.66	14.55	11.86	11.08	17.20	15.25	13.95	11.53	9.36	8.99	8.97
Number of days of payables	days	37.47	17.56	36.09	39.66	48.88	30.29	27.72	27.65	32.18	31.31	25.09	30.77	32.96	21.22	23.94	26.17	31.66	39.00	40.62	40.69

December 31, 2023 calculation

Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 9.74
= 37.47

First Solar Inc's number of days of payables has shown fluctuations over the past eight quarters. In Q4 2023, the number of days of payables was 37.47 days, which indicates that, on average, it takes the company about 37.47 days to pay off its trade payables. This is an increase from the previous quarter where the number of days of payables was 17.56 days.

Comparing Q4 2023 to the same quarter in the previous year (Q4 2022), we observe a decrease in the number of days of payables, indicating potential improvements in the efficiency of managing payables. However, the current level is still higher than in some quarters in 2022, such as Q3 and Q2.

Overall, monitoring the trend in the number of days of payables can provide insights into First Solar Inc's liquidity management and vendor payment practices. A decreasing trend may indicate improved cash flow management, while an increasing trend could signal potential liquidity challenges or changes in payment terms with suppliers. It is important for stakeholders to further investigate the reasons behind these fluctuations in order to assess the company's financial health and operational efficiency.