LCI Industries (LCII)

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		16.38	15.48	17.58	20.84	27.41	20.43	14.40	11.30	12.15	10.41	10.84	10.10	11.30	11.09	14.39	13.60	18.46	18.26	20.73	21.22
Number of days of payables	days	22.29	23.58	20.77	17.51	13.32	17.86	25.35	32.31	30.03	35.08	33.68	36.15	32.30	32.92	25.36	26.84	19.77	19.99	17.61	17.20

December 31, 2023 calculation

Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 16.38
= 22.29

To analyze LCI Industries' number of days of payables, we observe a trend of fluctuating values over the past eight quarters. The number of days of payables decreased from Q1 2022 to Q4 2022, suggesting the company was able to manage its payables more efficiently during this period. However, from Q1 2023 onwards, the number of days of payables began to increase, reaching a peak in Q3 2023 before slightly decreasing in Q4 2023.

The increase in the number of days of payables in recent quarters may indicate that LCI Industries is taking longer to pay its suppliers, which could potentially strain relationships with vendors. It is important to monitor this trend closely to ensure it does not lead to any cash flow issues or impact the company's creditworthiness.

Overall, the number of days of payables for LCI Industries shows varying levels of efficiency in managing supplier payments over the past two years, and it will be crucial for the company to address any emerging trends to maintain a healthy financial position.