Middleby Corp (MIDD)
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 | 14.26 | 14.20 | 13.80 | 11.36 | 12.82 | 12.90 | 9.99 | 10.01 | 9.21 | 10.67 | 11.49 | 10.91 | 12.36 | 14.91 | 18.61 | 13.10 | 14.53 | 13.85 | 13.01 | 12.53 | |
| Number of days of payables | days | 25.60 | 25.71 | 26.45 | 32.14 | 28.47 | 28.30 | 36.52 | 36.47 | 39.62 | 34.19 | 31.77 | 33.47 | 29.52 | 24.48 | 19.62 | 27.87 | 25.12 | 26.36 | 28.06 | 29.12 |
December 31, 2023 calculation
Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 14.26
= 25.60
Middleby Corp's number of days of payables has exhibited some fluctuations over the past few quarters. As of December 31, 2023, the company takes approximately 25.60 days to pay its suppliers, showing a slight decrease compared to the previous quarter's figure of 25.71 days. This suggests that the company is efficient in managing its accounts payable obligations.
Looking back over the last year, there seems to be a trend of decreasing days of payables from March 2023 to June 2023, followed by an increase in days payable in the subsequent quarters. However, despite these fluctuations, Middleby Corp's payables management appears relatively stable compared to earlier periods, indicating a consistent approach to managing its supplier payments.
It is essential to monitor the company's payables turnover ratio in conjunction with other financial metrics to gain a more comprehensive understanding of Middleby Corp's liquidity and working capital management.
Peer comparison
Dec 31, 2023