Onto Innovation Inc (ONTO)
Number of days of payables
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Payables turnover | 7.93 | 8.55 | 6.75 | 6.92 | 6.16 | |
| Number of days of payables | days | 46.01 | 42.71 | 54.11 | 52.75 | 59.25 |
December 31, 2023 calculation
Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 7.93
= 46.01
The number of days of payables for Onto Innovation Inc has shown fluctuations in recent years. As of December 31, 2023, the company took approximately 46.01 days, on average, to pay its suppliers and vendors, which is an increase compared to the previous year. This suggests that the company may be taking slightly longer to settle its payables.
In 2022, the number of days of payables was 42.71 days, indicating a shorter payment period compared to 2023. However, this was still higher than the 54.11 days recorded in 2021 and the 52.75 days in 2020. The longest payment period was observed in 2019, with 59.25 days on average to pay off its obligations.
The trend in the number of days of payables can provide insights into the company's cash management practices and relationships with suppliers. A longer payment period may indicate potential liquidity constraints or strained relationships with vendors, while a shorter period could signal efficient working capital management. It would be important to further analyze the underlying reasons for the fluctuations in the number of days of payables to gain a deeper understanding of Onto Innovation Inc's financial performance.
Peer comparison
Dec 31, 2023