Kontoor Brands Inc (KTB)
Number of days of payables
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Payables turnover | 12.77 | 11.10 | 10.25 | 11.95 | 16.27 | |
| Number of days of payables | days | 28.59 | 32.88 | 35.62 | 30.55 | 22.43 |
December 31, 2023 calculation
Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 12.77
= 28.59
The number of days of payables for Kontoor Brands Inc has shown a fluctuating trend over the past five years, ranging from 22.43 days in 2019 to 35.62 days in 2021. The metric measures the average number of days a company takes to pay its suppliers and indicates its efficiency in managing trade credit.
The decrease in the number of days of payables from 2021 to 2023 (35.62 days to 28.59 days) suggests that the company has been paying its suppliers more quickly, potentially indicating improved relationships with suppliers or stricter payment terms.
Comparing the number of days of payables to the industry average or peers can provide further insight into Kontoor Brands Inc's payment practices. Analyzing this metric alongside other liquidity and efficiency ratios can give a more comprehensive view of the company's financial health and operational efficiency.
Peer comparison
Dec 31, 2023