PNM Resources Inc (PNM)
Number of days of payables
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Payables turnover | 6.26 | 7.00 | 6.55 | 5.41 | 4.56 | |
| Number of days of payables | days | 58.35 | 52.17 | 55.70 | 67.45 | 79.97 |
December 31, 2023 calculation
Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 6.26
= 58.35
The number of days of payables for PNM Resources Inc has experienced fluctuations over the past five years. In 2023, the number of days of payables increased to 83.78 days from 69.35 days in 2022. This indicates that the company took longer to pay off its suppliers and vendors in 2023 compared to the previous year.
Looking back, in 2021 the number of days of payables was 79.87 days, slightly higher than in 2019 when it was 67.77 days. Interestingly, in 2020, the number of days of payables spiked to 105.60 days, suggesting a significant delay in payments to suppliers compared to the surrounding years.
Overall, the trend in the number of days of payables for PNM Resources Inc indicates some variability in the company's payment practices. An increase in this metric may signify concerns around liquidity or potential strain on cash flow management. Monitoring this ratio over time can provide insight into the efficiency of the company's working capital management and its relationship with suppliers.
Peer comparison
Dec 31, 2023