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

Company name
Symbol
Number of days of payables
Middleby Corp
MIDD
25.60
Hayward Holdings Inc
HAYW
49.23
Standex International Corporation
SXI
37.16
Tennant Company
TNC
37.44