NewMarket Corporation (NEU)
Number of days of payables
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Payables turnover | 9.01 | 8.32 | 7.96 | 8.24 | 9.60 | |
| Number of days of payables | days | 40.53 | 43.87 | 45.84 | 44.31 | 38.04 |
December 31, 2023 calculation
Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 9.01
= 40.53
The number of days of payables for NewMarket Corp. has fluctuated over the past five years. In 2023, the company took, on average, approximately 43.81 days to pay its accounts payable. This shows an improvement from the previous year when it took around 46.96 days.
Comparing the current year to 2021, the number of days required to settle payables has decreased significantly from 49.67 days to 43.81 days. This indicates that the company has been managing its payables more efficiently.
However, compared to 2020 and 2019 when the number of days of payables was 48.96 days and 41.82 days respectively, the company's payment cycle has been somewhat inconsistent.
Overall, the trend in the number of days of payables for NewMarket Corp. shows some variability but has generally improved over the years, with a notable decrease in days taken to settle payables from 2021 to 2023.
Peer comparison
Dec 31, 2023