IPG Photonics Corporation (IPGP)
Number of days of payables
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Payables turnover | 26.06 | 18.91 | 13.69 | 25.70 | 25.92 | |
| Number of days of payables | days | 14.01 | 19.30 | 26.66 | 14.20 | 14.08 |
December 31, 2023 calculation
Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 26.06
= 14.01
The number of days of payables for IPG Photonics Corp has been fluctuating over the past five years. In 2023, the company took an average of 14.01 days to pay its accounts payable, showing a significant improvement compared to 2022 where it took 19.30 days. This indicates that the company has been able to better manage its payables and is paying its suppliers more efficiently.
Compared to 2021 where it took 26.66 days to pay its payables, the company has shown a substantial decrease in the number of days it takes to settle its obligations. In 2020 and 2019, the number of days of payables was 14.20 days and 14.08 days respectively, indicating a relatively stable payment trend during those years.
Overall, the decreasing trend in the number of days of payables suggests that IPG Photonics Corp has been able to enhance its working capital management by paying its suppliers more promptly, potentially improving its cash flow position and relationships with suppliers.
Peer comparison
Dec 31, 2023