Penumbra Inc (PEN)

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		13.84	12.89	13.41	11.55	11.69	12.13	12.97	20.57	20.28	19.46	—	15.00	15.75	13.53	12.48	11.38	11.61	14.24	18.72	20.90
Number of days of payables	days	26.37	28.31	27.23	31.59	31.22	30.09	28.14	17.74	18.00	18.75	—	24.34	23.17	26.98	29.24	32.08	31.44	25.62	19.50	17.46

December 31, 2023 calculation

Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 13.84
= 26.37

Penumbra Inc's number of days of payables has shown some fluctuations over the past eight quarters. In Q4 2023, the number of days of payables was 26.37 days, a decrease from the previous quarter's 28.31 days in Q3 2023. Compared to the same quarter in the previous year, Q4 2022, there was also a slight decrease from 31.22 days to 26.37 days.

Looking at the trend over the past two years, it is notable that in Q1 2022, the number of days of payables was at its lowest at 17.74 days, and has since increased gradually, peaking in Q1 2023 at 31.59 days before showing a slight decline in Q4 2023.

Overall, the company's number of days of payables has shown variability, which could indicate changes in its payment practices or cash flow management. It is important to further analyze the reasons behind these fluctuations to understand their impact on the company's working capital efficiency and financial health.