MGP Ingredients Inc (MGPI)

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		8.74	11.71	7.29	9.25	9.11	9.04	9.41	10.69	9.52	12.57	10.96	12.04	11.27	11.43	15.02	11.26	10.69	13.16	15.57	16.49
Number of days of payables	days	41.77	31.18	50.04	39.47	40.06	40.36	38.77	34.15	38.33	29.03	33.30	30.31	32.38	31.93	24.30	32.43	34.14	27.73	23.44	22.13

December 31, 2023 calculation

Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 8.74
= 41.77

MGP Ingredients, Inc.'s number of days of payables has shown some fluctuations over the past eight quarters. In Q4 2023, the number of days of payables stood at 50.51 days, which was higher compared to the previous quarter (Q3 2023) at 37.48 days. This increase indicates that the company took longer to pay off its creditors during the most recent quarter.

Looking back at earlier quarters, there was a noticeable spike in the number of days of payables in Q2 2023 at 58.07 days, followed by a decrease in Q1 2023 to 45.39 days. The pattern of higher days of payables in Q2 followed by a decrease in Q1 indicates a potential seasonal trend or specific operational factors affecting the company during those periods.

Compared to the same quarter in the previous year (Q4 2022), there has been a slight increase in the number of days of payables, with Q4 2022 standing at 45.83 days. Overall, MGP Ingredients, Inc.'s number of days of payables has shown variability, and further analysis would be necessary to understand the specific reasons behind these fluctuations and their implications for the company's financial management and operations.