Gentex Corporation (GNTX)

Number of days of payables

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Payables turnover		9.05	9.47	12.46	14.10	13.10
Number of days of payables	days	40.33	38.53	29.28	25.89	27.86

December 31, 2023 calculation

Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 9.05
= 40.33

The number of days of payables for Gentex Corp has exhibited an increasing trend over the past five years, indicating that the company is taking longer to pay its suppliers and vendors. In particular, the number of days of payables increased from 30.42 days in 2019 to 43.80 days in 2023. This suggests that Gentex Corp may be managing its working capital more efficiently by extending the time it takes to pay its bills, potentially improving its cash flow position in the short term. However, a significant increase in the number of days of payables could also signify that the company is facing liquidity challenges or experiencing difficulties in managing its payables effectively. It would be important for investors and stakeholders to closely monitor this trend to assess the company's financial health and sustainability in the long run.