Myers Industries Inc (MYE)
Number of days of payables
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Payables turnover | 9.47 | 11.19 | 8.81 | 7.77 | 10.40 | |
| Number of days of payables | days | 38.55 | 32.63 | 41.43 | 46.99 | 35.10 |
December 31, 2023 calculation
Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 9.47
= 38.55
Myers Industries Inc.'s number of days of payables, a measure of how long it takes the company to pay its suppliers, has fluctuated over the past five years.
In 2023, the number of days of payables was 52.08 days, indicating that on average, the company takes approximately 52 days to pay its trade payables. This represents an increase from the previous year's figure of 43.56 days.
Comparing to 2021 and 2019, the number of days of payables was higher in 2023, suggesting a longer period taken by the company to settle its payables. However, it is worth noting that the number of days of payables was lower in 2023 compared to 2020, indicating an improvement in managing payables in the most recent year.
Overall, the trend in Myers Industries Inc.'s number of days of payables shows some variability, reflecting changes in the company's payment practices and relationships with suppliers over the years. Further analysis and comparison with industry benchmarks may provide additional insights into the effectiveness of the company's payables management strategies.
Peer comparison
Dec 31, 2023