Healthcare Services Group Inc (HCSG)
Number of days of payables
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Payables turnover | 19.63 | 24.03 | 24.72 | 31.53 | 32.47 | |
| Number of days of payables | days | 18.59 | 15.19 | 14.76 | 11.57 | 11.24 |
December 31, 2023 calculation
Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 19.63
= 18.59
The number of days of payables for Healthcare Services Group, Inc. has shown an increasing trend over the past five years. From December 31, 2019 to December 31, 2023, the number of days of payables increased from 12.31 days to 20.85 days. This indicates that the company is taking longer to pay its suppliers and manage its accounts payable.
The increase in the number of days of payables may suggest a change in the company's payment practices or relationships with suppliers. It could also indicate potential liquidity issues or inefficiencies in managing working capital.
Overall, the upward trend in the number of days of payables for Healthcare Services Group, Inc. warrants further investigation into the underlying reasons and implications for the company's financial health and operational efficiency.