Novanta Inc (NOVT)
Number of days of payables
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Payables turnover | 10.05 | 12.38 | 9.29 | 8.74 | 11.63 | |
| Number of days of payables | days | 36.31 | 29.48 | 39.29 | 41.75 | 31.38 |
December 31, 2024 calculation
Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 10.05
= 36.31
The number of days of payables for Novanta Inc has shown some fluctuations over the past five years. In December 31, 2020, the company took an average of 31.38 days to pay its outstanding payables, which increased to 41.75 days by December 31, 2021. This indicates that the company was taking longer to settle its payables in 2021 compared to the previous year.
Subsequently, there was a slight improvement as the number of days of payables decreased to 39.29 days by December 31, 2022. However, in December 31, 2023, there was a significant reduction in the number of days of payables to 29.48 days, suggesting that the company was able to manage its payables more efficiently during that period.
By December 31, 2024, the number of days of payables for Novanta Inc increased to 36.31 days, indicating a slight lengthening in the time taken to pay its obligations. Overall, the trend in the number of days of payables suggests some variability in the company's payment practices over the years, with efforts to manage payables more effectively seen in some periods.
Peer comparison
Dec 31, 2024