Grand Canyon Education Inc (LOPE)
Number of days of payables
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Payables turnover | 14.40 | 12.50 | 9.39 | 13.03 | 13.17 | |
| Number of days of payables | days | 25.36 | 29.21 | 38.89 | 28.01 | 27.71 |
December 31, 2023 calculation
Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 14.40
= 25.36
The number of days of payables for Grand Canyon Education Inc has shown a decreasing trend over the past three years. As of December 31, 2023, the company had an average of 41.66 days of payables, down from 48.52 days in 2022 and significantly lower than 67.17 days in 2021. A decrease in the number of days of payables implies that the company is taking less time to pay off its trade payables, which could indicate improved liquidity, stronger supplier relationships, or better cash management practices. However, it is noteworthy that data for 2020 and 2019 are not available for comparison, limiting the full assessment of the trend in payables management over a longer period.
Peer comparison
Dec 31, 2023