Callaway Golf Company (MODG)
Number of days of payables
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Payables turnover | 8.53 | 6.57 | 6.36 | 26.22 | 23.82 | |
| Number of days of payables | days | 42.81 | 55.53 | 57.37 | 13.92 | 15.32 |
December 31, 2023 calculation
Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 8.53
= 42.81
The number of days of payables for Topgolf Callaway Brands Corp has fluctuated over the past five years. In 2023, the company took an average of 29.25 days to pay its suppliers, showing an improvement from 2022 where it took 36.65 days. This indicates that in 2023, the company was able to manage its payables more efficiently.
Comparing to previous years, the number of days of payables was highest in 2021 at 39.85 days, which suggests that the company took longer to pay its suppliers that year. The decrease in 2023 indicates a positive trend in managing trade payables.
In 2020 and 2019, the number of days of payables were lower at 25.96 days and 26.50 days respectively, suggesting that the company was quicker in paying its suppliers during those years compared to 2021 and 2022.
Overall, it is important for the company to strike a balance in managing its payables efficiently to ensure good relationships with suppliers while optimizing its cash flow and working capital management.
Peer comparison
Dec 31, 2023