PPG Industries Inc (PPG)
Number of days of payables
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Payables turnover | 6.06 | 6.22 | 5.42 | 5.31 | 6.21 | |
| Number of days of payables | days | 60.26 | 58.66 | 67.39 | 68.77 | 58.73 |
December 31, 2023 calculation
Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 6.06
= 60.26
The number of days of payables for PPG Industries, Inc. has exhibited some fluctuations over the past five years. In 2023, the number of days of payables increased to 88.73 days from 83.49 days in 2022, indicating that the company took slightly longer to pay its accounts payable in 2023 compared to the previous year.
Comparing to 2021, where it was 97.02 days, the increase in days payables highlights an improvement in the efficiency of payables management in 2023. However, when looking back to 2020 and 2019, where the number of days of payables was 106.02 days and 88.50 days respectively, it is evident that there have been fluctuations over the years, suggesting varying approaches to managing supplier payments.
Overall, a lower number of days of payables generally indicates that the company is taking fewer days to settle its outstanding payables, which could imply effective cash management or negotiation with suppliers. In contrast, a higher number of days of payables may indicate slower payments, potentially providing the company with more time to use its cash resources before fulfilling its obligations.
Peer comparison
Dec 31, 2023