HNI Corp (HNI)
Number of days of payables
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Payables turnover | 12.14 | 13.69 | 9.01 | 9.97 | 9.24 | |
| Number of days of payables | days | 30.06 | 26.66 | 40.53 | 36.62 | 39.52 |
December 31, 2023 calculation
Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 12.14
= 30.06
The trend in HNI Corp's number of days of payables over the past five years indicates fluctuations in the company's ability to pay its suppliers. The number of days of payables decreased from 39.52 days in 2019 to 26.66 days in 2022, suggestive of an improvement in the company's ability to settle its payables more efficiently. However, in 2023, the number of days of payables slightly increased to 30.06 days, which may imply a potential delay in settling obligations to suppliers compared to the previous year. Overall, while there have been fluctuations, HNI Corp's management of payables appears relatively stable, although a close monitoring of this metric is advisable to ensure efficient cash flow management.