Fortinet Inc (FTNT)
Number of days of payables
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Payables turnover | 17.00 | 12.17 | 15.44 | 12.53 | 16.04 | |
| Number of days of payables | days | 21.47 | 29.98 | 23.65 | 29.12 | 22.76 |
December 31, 2023 calculation
Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 17.00
= 21.47
The number of days of payables for Fortinet Inc has shown fluctuations over the past five years. As of December 31, 2023, the company took approximately 60.27 days on average to pay its trade payables. This represents an improvement compared to the previous year (81.89 days as of December 31, 2022), indicating a more efficient management of payables.
When comparing the current figure to earlier years, we observe variability in the number of days taken to settle payables. The trend indicates that Fortinet Inc has been able to effectively manage its payables turnover in recent years. Overall, a lower number of days of payables suggests that the company is efficiently managing its working capital and vendor relationships, which can positively impact its liquidity and financial health.
Peer comparison
Dec 31, 2023