Innovex International, Inc (INVX)

Number of days of payables

		Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Payables turnover		6.57	9.12	7.44	5.41	7.21
Number of days of payables	days	55.58	40.03	49.03	67.45	50.61

December 31, 2024 calculation

Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 6.57
= 55.58

The analysis of Innovex International, Inc.'s number of days of payables over the recent fiscal years reveals notable fluctuations in the company's trade payables management. As of December 31, 2020, the company maintained an average payables period of approximately 50.61 days. This duration increased significantly in 2021 to approximately 67.45 days, indicating that the company took longer to settle its obligations to suppliers during this period. Conversely, in 2022, the payables period decreased to around 49.03 days, approaching the 2020 level, which may suggest an effort to improve cash flow management or renegotiation of payment terms. The subsequent year, 2023, experienced a further reduction to approximately 40.03 days, reflecting potentially more efficient payment processes or a shift towards quicker settlement of payables. In 2024, the payables period increased again to approximately 55.58 days, indicating a return to somewhat longer payment durations compared to 2023 but still shorter than the peaks observed in 2021. Overall, the variation in the number of days of payables demonstrates changes in the company's approach to supplier payments, influenced possibly by cash flow strategies, supplier relationships, or operational adjustments.