Gentex Corporation (GNTX)

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		9.05	9.45	9.38	9.03	9.47	8.01	6.87	8.78	12.46	12.57	12.74	11.19	14.10	12.87	19.50	12.77	13.10	13.55	14.13	13.93
Number of days of payables	days	40.33	38.62	38.91	40.43	38.54	45.55	53.13	41.59	29.28	29.05	28.66	32.61	25.89	28.37	18.72	28.58	27.86	26.93	25.84	26.21

December 31, 2023 calculation

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

To analyze Gentex Corp.'s number of days of payables, we can see a fluctuating trend over the past eight quarters. The number of days of payables has ranged from a low of 41.96 days in Q3 2023 to a high of 58.85 days in Q3 2022.

In the most recent quarter, Q4 2023, the number of days of payables decreased slightly to 43.80 days compared to the previous quarter, indicating that the company is taking slightly fewer days to pay its suppliers.

Overall, it seems that Gentex Corp. has been managing its payables effectively, with fluctuations within a reasonable range. However, a closer examination of the company's payment policies and vendor relationships may provide additional insights into its working capital management strategies.