Innospec Inc (IOSP)
Number of days of payables
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Payables turnover | 10.79 | 10.60 | 8.96 | 11.75 | 11.09 | |
| Number of days of payables | days | 33.83 | 34.44 | 40.74 | 31.06 | 32.92 |
December 31, 2023 calculation
Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 10.79
= 33.83
The number of days of payables for Innospec Inc has fluctuated over the past five years, ranging from a low of 42.36 days in 2020 to a high of 51.76 days in 2021. In 2023, the company had 43.98 days of payables, which indicates that, on average, it takes approximately 44 days for Innospec to pay its suppliers. This metric is important as it represents the average number of days it takes for the company to settle its accounts payable, reflecting its efficiency in managing its trade credit terms. Overall, the relatively stable range of days of payables suggests that Innospec has been consistent in managing its payment obligations to suppliers over the years.
Peer comparison
Dec 31, 2023