Gogo Inc (GOGO)
Number of days of payables
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Payables turnover | 5.68 | 6.64 | 4.72 | 19.08 | 32.00 | |
| Number of days of payables | days | 64.28 | 54.98 | 77.29 | 19.13 | 11.41 |
December 31, 2023 calculation
Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 5.68
= 64.28
Gogo Inc's number of days of payables has fluctuated over the past five years, ranging from a low of 14.48 days in 2019 to a high of 61.44 days in 2021. In 2023, the number of days of payables stood at 44.18 days, indicating a moderate increase compared to the previous year. This metric represents the average number of days it takes for Gogo Inc to pay its suppliers or vendors.
A lower number of days of payables suggests that the company is paying its suppliers more quickly, which could indicate strong liquidity or efficient cash management. Conversely, a higher number of days of payables may indicate that the company is taking longer to settle its payables, which could potentially strain supplier relationships or signal liquidity constraints.
Overall, Gogo Inc's number of days of payables should be analyzed in conjunction with other financial ratios and performance metrics to gain a comprehensive understanding of the company's financial health and operational efficiency.
Peer comparison
Dec 31, 2023