Novanta Inc (NOVT)
Number of days of payables
| 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 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Payables turnover | 12.04 | 10.80 | 10.79 | 10.52 | 9.08 | 8.54 | 8.38 | 8.51 | 8.55 | 8.26 | 9.47 | 9.51 | 11.35 | 12.33 | 11.10 | 10.82 | 9.99 | 11.01 | 10.35 | 10.15 | |
| Number of days of payables | days | 30.32 | 33.80 | 33.84 | 34.70 | 40.21 | 42.73 | 43.54 | 42.91 | 42.67 | 44.21 | 38.53 | 38.39 | 32.16 | 29.60 | 32.89 | 33.74 | 36.52 | 33.15 | 35.25 | 35.97 |
December 31, 2023 calculation
Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 12.04
= 30.32
The number of days of payables for Novanta Inc has been gradually decreasing over the past four quarters, indicating a potentially positive trend in managing its accounts payable. In Q4 2023, the number of days of payables was 43.33 days, marking a decrease from 47.60 days in Q3 2023 and a continuation of the downward trend from previous quarters. This suggests that the company is taking longer to pay its suppliers, which can be beneficial for cash flow management and working capital.
Comparing the latest figures to the same period a year ago, the number of days of payables has improved significantly from 56.91 days in Q4 2022 to 43.33 days in Q4 2023. This indicates that Novanta Inc has become more efficient in managing its payables over the year.
Overall, the decreasing trend in the number of days of payables for Novanta Inc reflects a potentially improved liquidity position and a more effective management of its accounts payable, which could positively impact the company's financial performance and stability in the long run.
Peer comparison
Dec 31, 2023