Garmin Ltd (GRMN)
Number of days of payables
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Payables turnover | 10.41 | 12.17 | 13.46 | 7.53 | 8.92 | |
| Number of days of payables | days | 35.07 | 29.99 | 27.11 | 48.45 | 40.90 |
December 31, 2024 calculation
Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 10.41
= 35.07
The number of days of payables for Garmin Ltd has fluctuated over the years. As of December 31, 2020, the company took approximately 40.90 days to pay its suppliers and vendors. This number increased to 48.45 days by December 31, 2021, indicating a potential slowdown in payments.
However, there was a significant improvement by December 31, 2022, with the number of days of payables decreasing to 27.11 days. This suggests that Garmin Ltd managed to shorten its payment cycle, possibly enhancing its liquidity position.
By December 31, 2023, the number of days of payables slightly increased to 29.99 days, but still remained lower than the levels seen in 2021. This indicates that the company was able to maintain a relatively efficient payables management system.
As of December 31, 2024, the number of days of payables stood at 35.07 days, showing a slight increase compared to the previous year. Overall, the trend in Garmin Ltd's number of days of payables reflects variations in its payment practices, with efforts to optimize working capital and manage cash flow effectively.
Peer comparison
Dec 31, 2024