Pinnacle West Capital Corp (PNW)
Number of days of payables
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Payables turnover | 6.69 | 6.28 | 5.43 | 6.03 | 5.59 | |
| Number of days of payables | days | 54.52 | 58.12 | 67.17 | 60.54 | 65.33 |
December 31, 2023 calculation
Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 6.69
= 54.52
The number of days of payables for Pinnacle West Capital Corp. has shown a decreasing trend over the past five years. In 2023, the number of days of payables decreased to 90.09 days from 96.42 days in 2022. This indicates that the company took fewer days to pay its suppliers in 2023 compared to the previous year, which may reflect improved efficiency in managing its payables.
Furthermore, compared to 2021, where the number of days of payables was 124.49 days, there has been a significant reduction by approximately 34 days in 2023. This significant improvement suggests that Pinnacle West Capital Corp. has been more effective in managing its payables and optimizing its working capital utilization.
Overall, the decreasing trend in the number of days of payables for Pinnacle West Capital Corp. indicates a positive change in the company's ability to manage its payables efficiently, which can have a favorable impact on its liquidity and cash flow management.
Peer comparison
Dec 31, 2023