Gates Industrial Corporation plc (GTES)
Number of days of payables
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Payables turnover | 4.83 | 4.91 | 4.21 | 4.21 | 5.19 | |
| Number of days of payables | days | 75.55 | 74.41 | 86.60 | 86.65 | 70.33 |
December 31, 2023 calculation
Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 4.83
= 75.55
The number of days of payables for Gates Industrial Corporation plc has shown fluctuating trends over the past five years. In 2023, the number of days of payables increased to 75.55 days compared to the previous year's 74.41 days. This indicates that the company took slightly longer to pay its suppliers in 2023.
Looking back, in 2021 and 2020, Gates Industrial Corporation plc had longer periods of payables at 86.60 days and 86.65 days, respectively. This suggests that the company was taking almost three months to pay its suppliers during those years.
In contrast, in 2019, the number of days of payables was relatively lower at 70.33 days, indicating that the company was managing its payables more efficiently that year.
Overall, the trend in the number of days of payables for Gates Industrial Corporation plc fluctuates, suggesting varying payment practices and supplier relationships over the years. Further analysis and comparison with industry norms may provide additional insights into the company's working capital management.
Peer comparison
Dec 31, 2023