Insteel Industries Inc (IIIN)
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 | 24.03 | 17.69 | 16.60 | 17.76 | 21.88 | 11.06 | 6.26 | 7.57 | 7.90 | 5.67 | 4.44 | 5.45 | 11.16 | 11.58 | 9.14 | 11.62 | 14.06 | 20.90 | 13.97 | 11.84 | |
| Number of days of payables | days | 15.19 | 20.64 | 21.99 | 20.55 | 16.68 | 33.00 | 58.32 | 48.22 | 46.19 | 64.42 | 82.19 | 66.91 | 32.71 | 31.53 | 39.93 | 31.41 | 25.97 | 17.47 | 26.13 | 30.82 |
December 31, 2023 calculation
Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 24.03
= 15.19
Insteel Industries Inc's number of days of payables has exhibited fluctuations over the past five years. The company's payables turnover period has ranged from as low as 15.19 days to as high as 82.19 days during this period. Analyzing the trend, we observe an overall decreasing pattern from a peak of 82.19 days in June 2021 to a low of 15.19 days in December 2023. This downward trend indicates that the company has been managing its payables more efficiently, potentially negotiating better terms with suppliers or paying its obligations more promptly. It is important to note that an excessive decrease in the number of days of payables may indicate a liquidity issue or that the company is missing out on potential opportunities to maximize cash flow by delaying payments. Further analysis of the company's working capital management and financial performance is recommended to gain a holistic understanding of its financial health.
Peer comparison
Dec 31, 2023