Middleby Corp (MIDD)
Number of days of payables
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Payables turnover | 15.31 | 12.82 | 9.21 | 12.36 | 14.53 | |
| Number of days of payables | days | 23.84 | 28.47 | 39.62 | 29.52 | 25.12 |
December 31, 2023 calculation
Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 15.31
= 23.84
Middleby Corp's number of days of payables has shown fluctuations over the past five years. The trend indicates that the company has been managing its accounts payable efficiently.
The number of days of payables decreased from 39.62 days in 2021 to 23.84 days in 2023, reflecting a significant improvement. This suggests that the company is taking longer to pay its suppliers, which could indicate stronger negotiation power or improved cash flow management.
The decrease in days of payables from 2022 to 2023 indicates that Middleby Corp may be paying its suppliers more promptly. This could potentially demonstrate a more stable financial position and a healthy supplier relationship.
Overall, the trend in Middleby Corp's number of days of payables indicates effective management of the company's payment obligations to its suppliers over the past five years.
Peer comparison
Dec 31, 2023