Novanta Inc (NOVT)
Number of days of payables
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Payables turnover | 12.38 | 9.29 | 8.74 | 11.63 | 10.27 | |
| Number of days of payables | days | 29.48 | 39.29 | 41.75 | 31.38 | 35.55 |
December 31, 2023 calculation
Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 12.38
= 29.48
The number of days of payables for Novanta Inc has been fluctuating over the past five years. In 2023, the number of days of payables decreased to 43.33 days from 56.91 days in 2022. This indicates 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 61.52 days, showing an increase from 45.31 days in 2020. This suggests that in 2021, Novanta Inc took longer to pay its suppliers compared to the previous year.
Similarly, in 2019, the number of days of payables was 52.73 days, indicating that the company took a shorter time to pay its suppliers compared to 2021 but a longer time compared to 2020.
Overall, the trend in the number of days of payables for Novanta Inc shows fluctuations over the past five years, with some years showing an increase in the number of days to pay suppliers, and others showing a decrease. It is important to monitor this metric to assess the company's liquidity management and relationships with suppliers.
Peer comparison
Dec 31, 2023