Martin Marietta Materials Inc (MLM)

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		15.56	15.52	15.29	17.36	13.69	15.90	14.16	12.65	12.83	16.87	16.36	19.31	18.61	18.22	19.92	19.62	17.17	16.24	18.93	20.26
Number of days of payables	days	23.45	23.52	23.88	21.03	26.67	22.96	25.78	28.85	28.44	21.64	22.31	18.90	19.61	20.03	18.32	18.61	21.26	22.48	19.28	18.02

December 31, 2023 calculation

Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 15.56
= 23.45

Martin Marietta Materials, Inc. has demonstrated relatively stable number of days of payables over the past eight quarters. In Q4 2023, the number of days of payables was 26.35 days, showing a slight increase from the previous quarter's figure of 26.28 days. This indicates that the company takes approximately 26 days to pay its accounts payable.

Compared to the same period in the previous year, Martin Marietta Materials, Inc. has shown an improvement in managing its payables, as the number of days decreased from 29.66 days in Q4 2022 to 26.35 days in Q4 2023. This trend suggests that the company may be efficiently managing its working capital by potentially negotiating better payment terms with suppliers or improving its overall cash flow management.

Overall, a consistent and relatively low number of days of payables can be seen as a positive indicator of effective cash management and financial health for Martin Marietta Materials, Inc., as it indicates the company's ability to control its payment obligations and potentially leverage its working capital efficiently.