NV5 Global Inc (NVEE)
Number of days of payables
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Payables turnover | 14.13 | 12.07 | 11.09 | 14.90 | 13.50 | |
| Number of days of payables | days | 25.82 | 30.24 | 32.91 | 24.50 | 27.04 |
December 31, 2023 calculation
Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 14.13
= 25.82
From the data provided, NV5 Global Inc's number of days of payables has fluctuated over the past five years. The number of days of payables represents the average number of days the company takes to pay its suppliers and is an indicator of how efficiently the company manages its trade credit.
In 2023, NV5 Global Inc took approximately 25.82 days to pay its payables, indicating a slight improvement compared to the previous year. This suggests that the company was able to manage its payables more efficiently in 2023.
In 2022, the number of days of payables was 30.24 days, showing an increase from the previous year. This could suggest that the company took longer to pay its suppliers in 2022 compared to 2021.
In 2021, the number of days of payables was 32.91 days, indicating a longer payment period compared to the previous years. This could imply that the company faced challenges in managing its payables efficiently in 2021.
In 2020, NV5 Global Inc's number of days of payables was 24.50 days, showing a decrease from the previous year. This improvement suggests that the company was able to pay its suppliers more promptly in 2020.
In 2019, the number of days of payables was 27.04 days, indicating a longer payment period compared to 2020 but shorter than 2021. This suggests that there was some fluctuation in the company's payment practices in 2019.
Overall, the trend in NV5 Global Inc's number of days of payables indicates some variability in the company's payment practices over the past five years. It is important for investors and analysts to monitor this metric to assess the company's efficiency in managing its working capital and relationships with suppliers.
Peer comparison
Dec 31, 2023