HNI Corp (HNI)
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 | 11.27 | — | — | — | 13.69 | — | — | — | 9.01 | — | — | — | 9.97 | — | — | — | 9.24 | — | — | — | |
| Number of days of payables | days | 32.39 | — | — | — | 26.66 | — | — | — | 40.53 | — | — | — | 36.62 | — | — | — | 39.52 | — | — | — |
December 31, 2023 calculation
Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 11.27
= 32.39
HNI Corp's number of days of payables has fluctuated over the past few years. As of December 31, 2023, the company had an average payment period of approximately 32.39 days, which indicates that, on average, it takes the company around a month to pay its suppliers. This suggests efficient management of accounts payable.
The trend in days of payables is not consistent, as evidenced by the variations in the data over the reporting periods. However, it is important to note that comparing the number of days of payables to industry benchmarks and historical performance can provide deeper insights into the company's payment policies and liquidity management. Further analysis and comparison with industry peers may help determine the effectiveness of HNI Corp's payables management strategy.