MYR Group Inc (MYRG)
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 | 9.80 | 8.95 | 9.61 | 10.43 | 9.19 | 9.53 | 9.90 | 10.86 | 11.87 | 12.16 | 11.10 | 11.59 | 13.31 | 10.37 | 13.66 | 11.83 | 10.50 | 9.02 | 9.93 | 8.88 | |
| Number of days of payables | days | 37.26 | 40.78 | 37.98 | 34.98 | 39.73 | 38.30 | 36.87 | 33.60 | 30.75 | 30.01 | 32.87 | 31.51 | 27.42 | 35.19 | 26.72 | 30.85 | 34.75 | 40.48 | 36.74 | 41.09 |
December 31, 2023 calculation
Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 9.80
= 37.26
MYR Group Inc's number of days of payables has shown fluctuations over the past eight quarters. In Q4 2023, the number of days of payables was 40.00 days, indicating that on average, the company takes 40 days to pay its suppliers. This represents a decrease from the previous quarter, Q3 2023, when the number of days of payables was 43.90 days. However, compared to Q4 2022, the number of days of payables has decreased from 43.19 days to 40.00 days.
Overall, MYR Group Inc's number of days of payables has been hovering around the 40-day mark in recent quarters, suggesting relatively consistent payment practices. This metric is crucial for assessing the company's efficiency in managing its accounts payable and relationships with suppliers. Further analysis could involve comparing this metric to industry benchmarks or historical trends to gain deeper insights into the company's financial performance and cash flow management.
Peer comparison
Dec 31, 2023