Ingersoll Rand Inc (IR)
Number of days of payables
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Payables turnover | 4.98 | 4.61 | 4.72 | 4.79 | 3.84 | |
| Number of days of payables | days | 73.22 | 79.16 | 77.35 | 76.23 | 95.11 |
December 31, 2023 calculation
Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 4.98
= 73.22
Ingersoll-Rand Inc has shown a fluctuating trend in the number of days of payables over the past five years. The company's number of days of payables ranged from 73.22 days as of December 31, 2023, to 79.16 days as of December 31, 2022. The increase in days of payables from 2022 to 2023 indicates Ingersoll-Rand Inc took longer to pay its suppliers in 2023 compared to the previous year. However, this metric remained relatively consistent around the high 70s range in the preceding years, suggesting a typical payment cycle for the company. Overall, a lower number of days of payables reflects a more efficient management of working capital, while a higher number may indicate liquidity constraints or potential negotiation power with suppliers.
Peer comparison
Dec 31, 2023