Iridium Communications Inc (IRDM)
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 | 5.06 | 10.22 | 5.89 | 5.82 | 5.85 | 4.09 | 7.81 | 6.99 | 6.30 | 9.29 | 9.76 | 9.42 | 6.36 | 12.59 | 10.88 | 10.38 | 14.24 | 6.83 | 7.83 | 5.76 | |
| Number of days of payables | days | 72.07 | 35.71 | 61.97 | 62.76 | 62.35 | 89.16 | 46.74 | 52.23 | 57.91 | 39.29 | 37.41 | 38.73 | 57.37 | 29.00 | 33.55 | 35.15 | 25.64 | 53.44 | 46.60 | 63.39 |
December 31, 2023 calculation
Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 5.06
= 72.07
Iridium Communications Inc's number of days of payables has shown fluctuations over the past eight quarters. In Q4 2023, the number of days of payables increased significantly to 46.49 days, indicating the company took longer to pay its vendors compared to the previous quarter. This suggests a possible slowdown in the company's payment processes or a shift in vendor terms.
Looking back at Q3 2023, the number of days of payables was relatively low at 23.27 days, indicating that Iridium Communications Inc managed to pay off its vendors more quickly during that period. However, in Q2 2023 and Q1 2023, the number of days of payables increased to 40.30 days and 39.23 days respectively, showing a trend of elongated payment cycles during those quarters.
Comparing the recent data to the same quarters in 2022, we observe a mixed pattern. In Q4 2022, the number of days of payables was 38.78 days, slightly lower than in Q4 2023. However, in Q3 2022, the number of days of payables was higher at 57.19 days, indicating an improvement in payables management in the current quarter.
Overall, the fluctuations in Iridium Communications Inc's number of days of payables suggest varying levels of efficiency in managing the company's payables cycle. Further analysis and comparison with industry benchmarks may provide deeper insights into the company's working capital management.
Peer comparison
Dec 31, 2023