Myers Industries Inc (MYE)

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		9.46	9.54	9.78	8.74	11.19	8.40	7.63	7.48	8.81	8.45	7.28	7.55	7.77	9.51	10.04	9.47	10.40	9.42	9.86	9.74
Number of days of payables	days	38.57	38.28	37.33	41.74	32.63	43.44	47.82	48.77	41.43	43.21	50.14	48.37	46.99	38.40	36.35	38.53	35.10	38.73	37.02	37.48

December 31, 2023 calculation

Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 9.46
= 38.57

Myers Industries Inc.'s number of days of payables has shown some variability over the past eight quarters. In Q4 2023, the company had 52.08 days of payables, which decreased slightly from the previous quarter (Q3 2023) when it was 51.91 days. The number of days of payables was relatively stable in Q2 2023 at 50.66 days before increasing in Q1 2023 to 56.18 days.

Comparing this trend to the same quarters in the previous year, there has been an overall increase in the number of days of payables. In Q4 2022, the company had 43.56 days of payables, which has since shown an upward trend over the next three quarters.

The longer number of days of payables may indicate that Myers Industries Inc. is taking longer to pay its suppliers and vendors. This can be both positive and negative for the company, as it may help improve cash flow by delaying payments but could also strain relationships with suppliers if not managed effectively. Further analysis of the company's payment policies and cash management strategies would provide more insights into the implications of the trend in days of payables for Myers Industries Inc.