Corning Incorporated (GLW)
Number of days of payables
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Payables turnover | 5.91 | 5.37 | 5.59 | 6.62 | 4.71 | |
| Number of days of payables | days | 61.81 | 68.00 | 65.24 | 55.14 | 77.56 |
December 31, 2023 calculation
Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 5.91
= 61.81
The number of days of payables for Corning, Inc. has fluctuated over the past five years, indicating changes in the company's payment practices and relationships with suppliers.
In 2023, the number of days of payables decreased to 61.81 days from 68.00 days in 2022. This suggests that the company took longer to pay its suppliers in 2023 compared to the previous year, potentially indicating improved cash flow management or negotiation of more favorable credit terms.
Looking back further, in 2021, the number of days of payables was 65.24 days, slightly lower than in 2022. This could imply that the company was able to extend payment terms to its suppliers even further or improve its working capital efficiency during that year.
In contrast, in 2020, the number of days of payables decreased significantly to 55.14 days from 77.56 days in 2019. This sharp decrease may indicate a more aggressive approach to managing payables, potentially to shore up cash reserves or strengthen the company's financial position during a challenging economic environment.
Overall, the trend in Corning, Inc.'s number of days of payables reflects the company's evolving payment practices and its efforts to optimize working capital management and cash flow efficiency over the years, which can impact its liquidity and financial health.
Peer comparison
Dec 31, 2023