Intuitive Surgical Inc (ISRG)

Number of days of payables

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Payables turnover		23.20	25.81	26.78	33.86	20.97
Number of days of payables	days	15.73	14.14	13.63	10.78	17.41

December 31, 2023 calculation

Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 23.20
= 15.73

Intuitive Surgical Inc's number of days of payables has shown a fluctuating trend over the past five years. In 2023, the company took approximately 28.76 days to pay off its accounts payable, which is an increase from the previous year. This suggests that Intuitive Surgical Inc may be taking slightly longer to settle its outstanding obligations to suppliers. Comparing to 2021 and 2020, the number of days of payables has increased, indicating a potential extension in the payment period.

However, when looking at the historical trend, the number of days of payables in 2023 still remains lower than the levels seen in 2019. This suggests an overall improvement in managing the company's accounts payable turnover. It is worth noting that a lower number of days of payables may indicate a more efficient utilization of supplier credit and potential liquidity benefits for the company.

In conclusion, while there has been a slight increase in the number of days of payables in 2023 compared to the previous year, Intuitive Surgical Inc has maintained a relatively efficient payable turnover relative to historical data, which could help support its working capital management and financial health.