Goodyear Tire & Rubber Co (GT)
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 | 4.66 | 4.90 | 4.62 | 4.53 | 4.15 | 3.96 | 4.13 | 4.11 | 3.98 | 3.89 | 3.66 | 4.33 | 4.46 | 5.61 | 7.15 | 5.27 | 4.86 | 5.33 | 5.15 | 5.20 | |
| Number of days of payables | days | 78.37 | 74.51 | 79.05 | 80.65 | 87.98 | 92.08 | 88.35 | 88.90 | 91.68 | 93.89 | 99.65 | 84.27 | 81.89 | 65.02 | 51.07 | 69.21 | 75.06 | 68.47 | 70.90 | 70.14 |
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 shown a decreasing trend over the past four quarters. In Q4 2023, the company took approximately 95.37 days to pay its trade payables, which was lower than the previous quarter's 88.26 days. This suggests that Goodyear has been managing its trade payables more efficiently by reducing the number of days it takes to settle its obligations to suppliers. However, it is important to note that the number of days of payables is still higher than the levels seen in Q2 and Q1 2022. This indicates that despite the improvement, Goodyear may still be holding onto its payables for a relatively longer period compared to the previous year. Further analysis of the company's working capital management practices and supplier relationships may reveal insights into this trend.