Hexcel Corporation (HXL)

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		9.62	15.42	12.40	11.60	8.89	11.72	12.71	11.31	10.88	13.90	14.69	15.15	21.13	25.99	23.40	12.06	11.91	11.40	10.44	10.99
Number of days of payables	days	37.96	23.67	29.44	31.48	41.04	31.15	28.71	32.27	33.54	26.26	24.85	24.09	17.28	14.05	15.60	30.27	30.64	32.02	34.95	33.22

December 31, 2023 calculation

Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 9.62
= 37.96

To analyze the trend in Hexcel Corp.'s number of days of payables, we can observe fluctuations over the past eight quarters.

The number of days of payables has varied between a low of 26.81 days in Q3 2023 to a high of 46.50 days in Q4 2022. This indicates that the company has been able to manage its payables efficiently in some quarters, while in others, the days of payables have been comparatively high.

In Q4 2023, the number of days of payables increased to 42.83 days from 26.81 days in the previous quarter, suggesting a longer time taken to settle payables. This could imply that the company may be taking longer to pay its suppliers or managing cash flows differently in Q4 2023.

Overall, Hexcel Corp.'s number of days of payables has shown some variability over the past eight quarters, indicating fluctuations in the company's payment practices and liquidity management. Further analysis of the underlying reasons for these fluctuations would provide more insights into the company's financial performance and working capital management strategies.