MYR Group Inc (MYRG)
Number of days of payables
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Payables turnover | 9.80 | 9.19 | 11.87 | 13.31 | 10.51 | |
| Number of days of payables | days | 37.25 | 39.73 | 30.75 | 27.42 | 34.74 |
December 31, 2023 calculation
Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 9.80
= 37.25
Based on the historical data provided for MYR Group Inc, the number of days of payables has fluctuated over the past five years.
In 2023, the number of days of payables was 40.00 days, showing an improvement compared to 43.19 days in 2022. This indicates that the company took slightly longer to pay its suppliers in 2023 than in the previous year.
Looking further back, in 2021, the number of days of payables was 33.71 days, which was lower than in 2020 when it was 30.10 days. This suggests that MYR Group Inc improved its payment efficiency by taking longer to pay its suppliers in 2021 compared to 2020.
Compared to 2019, when the number of days of payables was 37.76 days, there has been a slight decrease in the payment period in recent years. This indicates that MYR Group Inc has been managing its payment terms effectively, but there may have been some variability in its payables management over the years.
Overall, the trend in the number of days of payables for MYR Group Inc has been somewhat inconsistent, with fluctuations observed from year to year. Analyzing this ratio in conjunction with other financial metrics can provide a more comprehensive understanding of the company's cash flow management and relationships with its suppliers.
Peer comparison
Dec 31, 2023