Iridium Communications Inc (IRDM)
Number of days of payables
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Payables turnover | 5.06 | 5.85 | 6.30 | 6.36 | 14.24 | |
| Number of days of payables | days | 72.07 | 62.35 | 57.91 | 57.37 | 25.64 |
December 31, 2023 calculation
Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 5.06
= 72.07
The number of days of payables for Iridium Communications Inc has shown an increasing trend over the past five years, indicating that the company is taking longer to pay its suppliers and vendors. In 2023, the number of days of payables increased to 46.49 days from 38.78 days in 2022. This suggests that Iridium Communications Inc is taking almost 47 days on average to pay its payables in 2023.
The trend of increasing number of days of payables could be a sign of potential liquidity issues or strategic management of cash flows by the company. It is important to further analyze the company's financial situation and operational efficiency to understand the reasons behind this trend and assess its implications on the overall financial health of Iridium Communications Inc.
Peer comparison
Dec 31, 2023