NOV Inc. (NOV)
Number of days of payables
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Payables turnover | 7.47 | 6.52 | 7.76 | 11.57 | 10.68 | |
| Number of days of payables | days | 48.88 | 56.02 | 47.03 | 31.56 | 34.19 |
December 31, 2023 calculation
Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 7.47
= 48.88
NOV Inc's number of days of payables has fluctuated over the past five years, ranging from a low of 31.56 days in 2020 to a high of 56.02 days in 2022. The company's payables turnover appears to have decreased in 2023 compared to the previous year, standing at 48.88 days. This metric indicates the average number of days it takes for NOV Inc to pay its outstanding obligations to suppliers and vendors. A longer number of days of payables suggests that the company is taking longer to settle its payables, potentially indicating liquidity constraints or strategic management of cash flow. Conversely, a shorter number of days of payables may indicate efficient cash management or negotiating favorable payment terms with suppliers. Overall, a thorough analysis of NOV Inc's payables management strategy and financial health should consider trends over time and industry benchmarks.
Peer comparison
Dec 31, 2023