ICU Medical Inc (ICUI)

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		10.13	10.09	9.27	8.50	7.33	6.79	5.89	4.94	10.17	13.10	11.59	11.06	11.26	10.00	7.86	9.33	6.18	6.37	6.12	6.01
Number of days of payables	days	36.04	36.18	39.39	42.94	49.81	53.76	61.97	73.82	35.90	27.86	31.49	33.01	32.40	36.50	46.45	39.11	59.10	57.29	59.68	60.73

December 31, 2023 calculation

Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 10.13
= 36.04

The number of days of payables for ICU Medical, Inc. has shown a decreasing trend over the past eight quarters, indicating a more efficient management of the company's accounts payables. In Q4 2023, the company took an average of 36.04 days to pay its suppliers, compared to 36.18 days in Q3 2023 and 39.39 days in Q2 2023. This suggests that the company has been able to negotiate more favorable payment terms with its suppliers, leading to a shorter payment cycle.

Furthermore, when we compare the current number of days of payables to the same period last year, there has been a significant improvement. In Q4 2023, ICU Medical, Inc. reduced its payables period by 13.77 days compared to Q4 2022, indicating a more efficient management of working capital and potentially improved cash flow management.

Overall, the decreasing trend in the number of days of payables for ICU Medical, Inc. reflects positively on the company's ability to effectively manage its accounts payables and suggests a stronger financial position.