Callaway Golf Company (MODG)
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 | 8.54 | 10.83 | 8.54 | 4.72 | 6.60 | 6.61 | 5.81 | 5.79 | 6.33 | 8.68 | 11.47 | 10.90 | 26.22 | — | — | — | 23.82 | — | — | — | |
| Number of days of payables | days | 42.74 | 33.72 | 42.73 | 77.30 | 55.27 | 55.19 | 62.78 | 63.06 | 57.70 | 42.03 | 31.83 | 33.50 | 13.92 | — | — | — | 15.32 | — | — | — |
December 31, 2023 calculation
Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 8.54
= 42.74
Based on the data provided, Topgolf Callaway Brands Corp's number of days of payables has shown fluctuations over the past eight quarters. In Q4 2023, the company had 29.25 days of payables, which was slightly higher compared to Q3 2023 with 23.31 days. This indicates that the company took longer to pay off its suppliers in Q4 2023.
Furthermore, compared to previous quarters, the number of days of payables in Q4 2023 was closer to the levels observed in Q2 2023 (29.35 days) and Q4 2022 (36.65 days). Interestingly, Q1 2023 recorded a significant increase in the number of days of payables to 51.41 days, suggesting a potential change in the company's payment policies or supplier relationships during that period.
Overall, analyzing the trend in the number of days of payables can provide insights into the company's liquidity management, supplier relationships, and operational efficiency in managing its payment obligations. It is essential for stakeholders to monitor these trends to assess the impact on the company's working capital and financial performance.
Peer comparison
Dec 31, 2023