Ingevity Corp (NGVT)

Number of days of payables

		Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	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
Payables turnover		17.96	20.24	13.65	10.89	10.18	7.31	7.09	7.87	7.64	7.75	7.09	8.86	8.68	8.28	8.69	8.51	9.07	11.04	12.33	9.57
Number of days of payables	days	20.32	18.03	26.74	33.50	35.86	49.94	51.51	46.38	47.77	47.09	51.49	41.19	42.05	44.08	41.98	42.91	40.26	33.07	29.61	38.15

December 31, 2024 calculation

Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 17.96
= 20.32

The number of days of payables for Ingevity Corp has fluctuated over the period of analysis. Initially, the company's payables were being settled in approximately 38 days as of March 31, 2020. This number decreased to around 29 days by June 30, 2020, indicating a potential improvement in the speed of settling payables.

Subsequently, the number of days to settle payables increased to around 40 days by December 31, 2020, showing a lengthening of the payables cycle. The trend continued, with the number of days of payables peaking at around 51 days by June 30, 2022, before declining slightly to approximately 47 days by September 30, 2022, and remaining at this level for the following periods.

The decrease in the number of days of payables observed after June 2022 could suggest better management of payables or negotiating more favorable payment terms with suppliers. However, the metric increased again after December 2023 but decreased significantly to around 20 days by December 31, 2024. This substantial decrease might indicate a temporary improvement in the efficiency of the company's payables management during that period.

In summary, the number of days of payables for Ingevity Corp has shown fluctuations over time, potentially reflecting changes in the company's payment policies, supplier relationships, or operational performance. Monitoring this ratio can provide insights into the company's liquidity management and relationships with suppliers.