Packaging Corp of America (PKG)
Number of days of payables
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Payables turnover | 16.64 | 17.02 | 14.19 | 15.06 | 16.80 | |
| Number of days of payables | days | 21.94 | 21.45 | 25.72 | 24.23 | 21.73 |
December 31, 2023 calculation
Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 16.64
= 21.94
Packaging Corp Of America's number of days of payables have shown a fluctuating trend over the past five years. In 2023, the number of days of payables decreased to 24.06 days from 23.45 days in 2022. This indicates that the company took slightly longer to pay its suppliers in 2023 compared to the previous year. However, looking back further, the number of days of payables in 2021 was higher at 28.19 days, but decreased in 2020 to 26.71 days and in 2019 to 24.14 days.
Overall, the number of days of payables of Packaging Corp Of America suggests that the company has been managing its payment terms with suppliers over the years, with some fluctuations. A lower number of days of payables may indicate a more efficient use of supplier credit or the company's ability to negotiate favorable payment terms, whereas a higher number may reflect a slower payment process or potentially strained relationships with suppliers.
Peer comparison
Dec 31, 2023