Gentex Corporation (GNTX)

Number of days of payables

		Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Payables turnover		10.04	9.05	9.47	12.46	14.10
Number of days of payables	days	36.35	40.33	38.53	29.28	25.89

December 31, 2024 calculation

Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 10.04
= 36.35

The number of days of payables for Gentex Corporation has shown an increasing trend over the past five years. As of December 31, 2020, the company took approximately 25.89 days to pay its payables, which increased to 29.28 days by the end of 2021. This trend continued with the number of days of payables rising to 38.53 days as of December 31, 2022, and further to 40.33 days by the end of 2023. However, there was a slight decrease in the number of days of payables to 36.35 days as of December 31, 2024.

This analysis indicates that Gentex Corporation has been taking longer to pay its payables over the years, which may suggest a change in the company's payment policies or potential liquidity constraints. It is important to monitor this trend to understand the company's working capital management and financial health.