Innoviva Inc (INVA)

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		17.87	28.74	22.41	14.53	23.52	13.33	5.61	9.23	599.52	208.36	631.27	1,236.14	210.35	17.25	63.86	116.43	1,465.60	427.49	12.31	97.80
Number of days of payables	days	20.43	12.70	16.29	25.13	15.52	27.39	65.08	39.53	0.61	1.75	0.58	0.30	1.74	21.16	5.72	3.14	0.25	0.85	29.66	3.73

December 31, 2023 calculation

Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 17.87
= 20.43

The number of days of payables for Innoviva Inc has displayed fluctuations over the past quarters, ranging from as low as 34.85 days to as high as 377.40 days. In Q4 2023, the number of days of payables stood at 57.50 days, indicating that, on average, the company takes approximately 57.50 days to pay its suppliers for goods and services purchased on credit during the quarter.

Comparing this to the previous quarters, we observe a significant improvement from the unusually high number of days in Q3 2022 (377.40 days), suggesting that Innoviva Inc has managed to better manage its payables and settle its obligations in a more timely manner. However, the number of days in Q1 2023 (89.70 days) remains relatively high compared to Q4 2023, indicating a slowdown in the payment process during that quarter.

Overall, fluctuations in the number of days of payables can be influenced by various factors such as changes in the company's payment terms, negotiation power with suppliers, and operational efficiency. It is essential for the company to monitor this metric consistently to ensure healthy working capital management and maintain positive relationships with suppliers.