IPG Photonics Corporation (IPGP)

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		26.06	25.17	23.09	21.42	18.91	14.52	13.87	16.80	13.69	14.42	14.36	15.59	25.70	17.51	15.74	17.37	25.92	22.62	17.73	16.74
Number of days of payables	days	14.01	14.50	15.81	17.04	19.30	25.13	26.31	21.72	26.66	25.32	25.42	23.41	14.20	20.85	23.19	21.02	14.08	16.13	20.58	21.80

December 31, 2023 calculation

Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 26.06
= 14.01

IPG Photonics Corp's number of days of payables has shown a declining trend over the past quarters, indicating that the company is taking fewer days to pay its suppliers. This is generally considered a favorable trend as it suggests improved liquidity or negotiation power with suppliers. In Q4 2023, the number of days of payables stood at 14.01 days, the lowest among the listed quarters, reflecting an efficient management of accounts payable. The company's ability to settle its payables quickly may lead to better relationships with suppliers and potential discounts for early payments. Overall, the decreasing trend in the number of days of payables for IPG Photonics Corp signals effective working capital management.