Ingredion Incorporated (INGR)
Number of days of payables
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Payables turnover | 8.33 | 7.46 | 7.76 | 8.13 | 9.93 | |
| Number of days of payables | days | 43.82 | 48.93 | 47.06 | 44.88 | 36.76 |
December 31, 2023 calculation
Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 8.33
= 43.82
The number of days of payables for Ingredion Inc has shown some fluctuation over the past five years, ranging from 37.57 days in 2019 to 50.78 days in 2021.
A lower number of days of payables indicates that the company takes fewer days to pay its suppliers, which could be seen as a positive sign of efficient working capital management. Conversely, a higher number of days suggests that the company is taking longer to settle its payables, which may indicate liquidity pressure or strained supplier relationships.
In 2023, the number of days of payables decreased to 44.29 days from 49.39 days in 2022, showing an improvement in the efficiency of payables management compared to the prior year. However, it is still higher than the levels observed in 2019 and 2020.
Overall, it would be important for Ingredion Inc to monitor and manage its payables effectively to ensure a balance between maintaining strong supplier relationships and optimizing working capital efficiency.
Peer comparison
Dec 31, 2023