Martin Marietta Materials Inc (MLM)

Number of days of payables

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Payables turnover		15.57	13.68	12.88	18.61	17.18
Number of days of payables	days	23.45	26.68	28.34	19.61	21.25

December 31, 2023 calculation

Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 15.57
= 23.45

The number of days of payables for Martin Marietta Materials, Inc. has been fluctuating over the past five years, indicating potential changes in the company's payment practices and efficiency in managing its payables.

In 2023, Martin Marietta Materials, Inc. took approximately 26.35 days on average to pay off its accounts payable, showing a decrease from the previous year. This may suggest that the company has improved its ability to settle its obligations in a timelier manner.

In 2022 and 2021, the number of days of payables increased to 29.66 days and 31.98 days, respectively, compared to the years before. This rise may indicate a slowdown in the company's payables turnover, potentially reflecting challenges in managing its working capital efficiently during those periods.

Conversely, in 2020 and 2019, the number of days of payables decreased to 21.81 days and 23.54 days, respectively, suggesting that the company was able to settle its payables more quickly in those years.

Overall, analyzing the trend in the number of days of payables can provide insights into Martin Marietta Materials, Inc.'s financial management practices and operational efficiency in handling its accounts payable over the specified years.