Ingevity Corp (NGVT)
Number of days of payables
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Payables turnover | 10.18 | 7.64 | 8.68 | 9.07 | 10.39 | |
| Number of days of payables | days | 35.86 | 47.77 | 42.05 | 40.26 | 35.13 |
December 31, 2023 calculation
Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 10.18
= 35.86
The number of days of payables for Ingevity Corp has shown some fluctuations over the past five years. In 2023, the company took an average of 47.38 days to settle its payables, which represents a decrease from the previous year. This indicates that Ingevity has been able to manage its accounts payable more efficiently compared to 2022 when it took 58.10 days to settle its payables.
Looking further back, we observe that in 2021, the number of days of payables was 52.26 days, which was also an improvement compared to 2020 when it took 50.67 days to settle payables. Additionally, in 2019, Ingevity took an average of 44.61 days to settle its payables.
Overall, the trend in the number of days of payables for Ingevity Corp has been relatively stable over the past five years, with some fluctuations. The company's ability to manage its payables efficiently is essential in maintaining good relationships with suppliers and optimizing its working capital management.
Peer comparison
Dec 31, 2023