Leggett & Platt Incorporated (LEG)
Number of days of payables
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Payables turnover | 9.05 | 8.15 | 6.67 | 6.20 | 8.18 | |
| Number of days of payables | days | 40.32 | 44.76 | 54.70 | 58.85 | 44.64 |
December 31, 2023 calculation
Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 9.05
= 40.32
The number of days of payables for Leggett & Platt, Inc. has shown variations over the past five years. As of December 31, 2023, the company took approximately 50.55 days to pay its suppliers, which is higher compared to the previous year. This may indicate that the company is taking slightly longer to settle its trade payables.
Comparing this figure to 2021, where the number of days of payables was 55.53, we see an improvement in the payment efficiency of the company between 2022 and 2023. However, the number of days of payables is still lower than the levels observed in 2020 and 2019, indicating that the company has been managing its trade payables more effectively in recent years.
Overall, the trend in the number of days of payables for Leggett & Platt, Inc. suggests that the company has been working towards optimizing its payment terms with suppliers over the past few years.
Peer comparison
Dec 31, 2023