John Bean Technologies Corporation (JBT)
Number of days of payables
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Payables turnover | 3.47 | 11.20 | 8.86 | 10.69 | 6.79 | |
| Number of days of payables | days | 105.18 | 32.58 | 41.18 | 34.14 | 53.79 |
December 31, 2023 calculation
Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 3.47
= 105.18
The number of days of payables for John Bean Technologies Corp has exhibited some fluctuations over the past five years. In 2023, the company took an average of 45.54 days to pay its suppliers, which represents a decrease from 55.86 days in 2022. This suggests that the company improved its efficiency in managing its payables during the most recent fiscal year.
Comparing to 2021, where the number of days of payables was 52.16 days, the current measure indicates a more favorable position in terms of managing its payment obligations. Similarly, in 2020, the company had a lower number of days of payables at 43.01 days, showing a slight uptick compared to the current year.
However, it is worth noting that in 2019, John Bean Technologies Corp took significantly longer to pay its suppliers, with 53.79 days on average. The downward trend in the number of days of payables suggests a potential improvement in the company's liquidity position and supplier relationships over the years, resulting in more efficient management of working capital.
Peer comparison
Dec 31, 2023