Insteel Industries Inc (IIIN)
Number of days of payables
| Sep 30, 2024 | Sep 30, 2023 | Sep 30, 2022 | Sep 30, 2021 | Sep 30, 2020 | ||
|---|---|---|---|---|---|---|
| Payables turnover | 12.79 | 17.00 | 13.45 | 9.49 | 10.70 | |
| Number of days of payables | days | 28.53 | 21.47 | 27.13 | 38.47 | 34.12 |
September 30, 2024 calculation
Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 12.79
= 28.53
The number of days of payables for Insteel Industries Inc has fluctuated over the past five years. In 2024, the company took approximately 28.53 days to pay its suppliers, which represents an increase from the previous year. This suggests that the company may be taking slightly longer to settle its payables obligations.
Comparing this to 2022 and 2023, where the number of days of payables was 27.13 days and 21.47 days respectively, it indicates a slight deterioration in the company's payment efficiency. However, it is worth noting that in 2024, the number of days of payables is still lower than in 2021, where it took 38.47 days to pay suppliers, suggesting an improvement in payment efficiency compared to that year.
Overall, while there has been some variability in the number of days of payables for Insteel Industries Inc over the past five years, the company seems to have managed to keep this metric relatively stable around the 30-day mark, with some fluctuations reflecting changes in the company's working capital management strategies.
Peer comparison
Sep 30, 2024