Otter Tail Corporation (OTTR)
Number of days of payables
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Payables turnover | 4.47 | 5.49 | 5.21 | 3.65 | 0.04 | |
| Number of days of payables | days | 81.64 | 66.48 | 70.05 | 100.13 | 8,543.68 |
December 31, 2024 calculation
Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 4.47
= 81.64
The number of days of payables for Otter Tail Corporation has shown a significant improvement over the period from December 31, 2020, to December 31, 2024. In 2020, the corporation had an exceptionally high number of days of payables at 8,543.68 days, indicating a lengthy period within which the company takes to pay its suppliers.
However, there has been a remarkable reduction in this figure in the subsequent years. By December 31, 2021, the number of days of payables had decreased significantly to 100.13 days, reflecting a more efficient management of payables. This trend continued with further improvements in the following years, dropping to 70.05 days by December 31, 2022, and further decreasing to 66.48 days by December 31, 2023.
Although there was a slight increase in the number of days of payables to 81.64 days by December 31, 2024, when compared to the previous year, the overall trend indicates that Otter Tail Corporation has been able to better manage its payables over the period. This improvement suggests that the company may be negotiating more favorable terms with its suppliers or enhancing its cash flow management, contributing to a more efficient working capital position.
Peer comparison
Dec 31, 2024