Philip Morris International Inc (PM)
Number of days of payables
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Payables turnover | 3.67 | 3.04 | 3.65 | 4.11 | 5.53 | |
| Number of days of payables | days | 99.44 | 120.00 | 99.94 | 88.75 | 65.98 |
December 31, 2023 calculation
Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 3.67
= 99.44
Philip Morris International Inc's number of days of payables has been fluctuating over the past five years. In 2023, the company took, on average, 117.29 days to pay its accounts payable, showing an improvement from 2022 when it took 130.48 days. However, compared to 2021 (121.22 days), there was a slight improvement in the payment period. In 2020, the company took 106.04 days to pay its payables, which was shorter than in 2021. The most significant improvement in payment efficiency was observed in 2019, with the company only needing 79.82 days to pay its accounts payable.
This fluctuation in the number of days of payables indicates that Philip Morris International Inc's management of its payables has been inconsistent over the years, with some improvement in 2023 compared to the previous year. Further analysis would be necessary to understand the reasons behind these changes and to assess the company's overall liquidity and efficiency in managing its payment obligations.
Peer comparison
Dec 31, 2023
See also:
Philip Morris International Inc Average Payables Payment Period