NeoGenomics Inc (NEO)
Number of days of payables
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Payables turnover | 34.86 | 32.75 | 33.72 | 19.07 | 20.83 | |
| Number of days of payables | days | 10.47 | 11.14 | 10.82 | 19.14 | 17.52 |
December 31, 2023 calculation
Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 34.86
= 10.47
Neogenomics Inc.'s number of days of payables has shown some variability over the past five years. The trend indicates that the company has been managing its payables efficiency well in recent years.
In 2023, the number of days of payables was 21.39 days, showing an improvement from 2022 when it was 23.26 days. This suggests that the company took fewer days to pay its suppliers in 2023 compared to the previous year.
In 2021, the number of days of payables was 22.00 days, relatively consistent with the previous year. However, there was a significant improvement from 2020 when it was 35.24 days, indicating that the company effectively enhanced its payables management in 2021.
Looking back to 2019, the number of days of payables was 33.69 days, which represents a reduction compared to 2020. This suggests that the company took fewer days to pay its suppliers in 2019.
Overall, Neogenomics Inc. has shown a positive trend in managing its payables efficiently over the years, with a notable improvement in 2023. This indicates that the company has been effective in optimizing its working capital management and building better relationships with its suppliers.