Goodyear Tire & Rubber Co (GT)
Number of days of payables
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Payables turnover | 4.66 | 4.15 | 3.98 | 4.38 | 4.86 | |
| Number of days of payables | days | 78.37 | 87.98 | 91.68 | 83.24 | 75.05 |
December 31, 2023 calculation
Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 4.66
= 78.37
The number of days of payables for Goodyear Tire & Rubber Co. has exhibited a fluctuating trend over the past five years. In 2023, the company took approximately 95.37 days to pay its suppliers, showing an improvement from the previous year where it took longer to settle payables at 103.41 days. However, compared to 2021, the number of days of payables has decreased further from 110.58 days, indicating that the company is managing its payables more efficiently.
The analysis suggests that Goodyear Tire & Rubber Co. has been able to strengthen its payables management in the most recent year, potentially optimizing cash flows and relationships with suppliers. This improvement in the number of days of payables may positively impact the company's working capital position and overall liquidity. It also indicates a potential focus on enhancing operational efficiency and financial health within the organization.