Garmin Ltd (GRMN)

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		11.37	10.47	10.70	12.71	13.46	9.99	8.39	9.00	6.97	8.51	8.68	9.62	8.92	9.27	10.83	10.55	8.59	8.37	8.96	11.19
Number of days of payables	days	32.11	34.85	34.11	28.72	27.11	36.55	43.51	40.56	52.39	42.87	42.06	37.95	40.90	39.36	33.71	34.59	42.50	43.60	40.74	32.62

December 31, 2023 calculation

Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 11.37
= 32.11

The number of days of payables for Garmin Ltd has shown fluctuations over the past few quarters, ranging from a low of 27.11 days to a high of 52.39 days. As of December 31, 2023, Garmin Ltd had 32.11 days of payables, indicating the average number of days the company takes to pay its suppliers.

A decreasing trend in the number of days of payables from the previous quarter may suggest that Garmin Ltd is paying its suppliers more quickly, which could potentially strain its working capital. On the other hand, an increasing trend could indicate the company is taking longer to pay suppliers, potentially improving its cash flow position but risking supplier relationships.

It is important for Garmin Ltd to strike a balance in managing its payables to ensure optimal cash flow and maintain healthy relationships with its suppliers. Monitoring this metric over time can provide valuable insights into the company's liquidity management and supplier payment practices.