Patrick Industries Inc (PATK)

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		21.08	21.04	25.62	25.39	29.55	23.27	19.80	16.51	17.62	14.85	17.87	15.85	20.98	17.31	16.15	14.62	21.23	13.17	13.55	12.78
Number of days of payables	days	17.32	17.35	14.25	14.38	12.35	15.69	18.44	22.11	20.71	24.57	20.43	23.02	17.40	21.08	22.60	24.97	17.19	27.71	26.93	28.56

December 31, 2023 calculation

Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 21.08
= 17.32

The number of days of payables for Patrick Industries, Inc. has shown some fluctuations over the past eight quarters. In Q4 2023 and Q3 2023, the company had 19.10 days and 19.09 days of payables respectively, indicating a relatively consistent payment period. However, in Q2 2023 and Q1 2023, the number of days of payables decreased to 15.64 days and 15.65 days respectively, suggesting that the company was able to manage its payables more efficiently during these quarters.

Comparing the latest quarters to the same periods in the previous year, the trend has been somewhat consistent with Q4 2022 and Q3 2022 having 13.65 days and 17.25 days of payables respectively. However, there was an increase in the number of days of payables in Q2 2022 and Q1 2022, with 20.17 days and 24.17 days of payables respectively, indicating a longer payment period during those quarters.

Overall, the number of days of payables for Patrick Industries, Inc. has shown variability over the past eight quarters, with some quarters indicating more efficient management of payables while others showing a longer payment period. It is important for the company to monitor and manage its payables effectively to maintain healthy cash flow and supplier relationships.