Innospec Inc (IOSP)

Number of days of payables

		Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Payables turnover		10.90	10.79	10.60	8.96	11.75
Number of days of payables	days	33.50	33.83	34.44	40.74	31.06

December 31, 2024 calculation

Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 10.90
= 33.50

Innospec Inc's number of days of payables, a key liquidity metric, has fluctuated over the past five years. Starting at 31.06 days on December 31, 2020, it increased to 40.74 days by December 31, 2021, indicating the company took longer to pay its creditors. However, there was a notable improvement in efficiency as the number of days of payables decreased to 34.44 days by December 31, 2022. Subsequently, there was a further reduction to 33.83 days by December 31, 2023, followed by a slight drop to 33.50 days by December 31, 2024, suggesting a stable trend in managing its payables. Overall, the company appears to have achieved better control over its payment obligations in recent years, indicating a potential focus on optimizing cash flow and working capital management.