ITT Inc (ITT)
Number of days of payables
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Payables turnover | 4.98 | 5.15 | 5.00 | 5.53 | 5.83 | |
| Number of days of payables | days | 73.31 | 70.88 | 73.06 | 66.04 | 62.66 |
December 31, 2023 calculation
Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 4.98
= 73.31
ITT Inc's number of days of payables has shown a fluctuating trend over the past five years. In 2023, the number of days of payables increased to 73.31 days from 70.88 days in 2022, indicating that the company took longer to pay its suppliers compared to the previous year. This could potentially signify a slower turnover of payables or a change in the company's payment terms.
Looking further back, in 2021, ITT Inc's number of days of payables was 73.06 days, slightly lower than 2023. In 2020, the number of days of payables was 66.04 days, showing a significant decrease from the previous year. The lowest number of days of payables was recorded in 2019 at 62.66 days.
Overall, the trend in ITT Inc's number of days of payables indicates some variability in the company's payment practices. It is essential to monitor this ratio to understand how efficiently the company manages its payables and maintains relationships with its suppliers.
Peer comparison
Dec 31, 2023