Proto Labs Inc (PRLB)
Number of days of payables
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Payables turnover | 28.34 | 24.93 | 16.17 | 18.67 | 20.81 | |
| Number of days of payables | days | 12.88 | 14.64 | 22.57 | 19.55 | 17.54 |
December 31, 2023 calculation
Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 28.34
= 12.88
Proto Labs Inc's number of days of payables has been fluctuating over the past five years. In Dec 31, 2023, the company took an average of 20.25 days to pay its creditors. This is a decrease from 23.21 days in Dec 31, 2022, indicating a more efficient management of payables.
Comparing to Dec 31, 2021 and Dec 31, 2020, where the company took 34.88 days and 30.75 days respectively to pay its creditors, the trend shows a significant improvement in managing payables. This could imply that the company is managing its working capital more effectively by negotiating better payment terms with suppliers or streamlining its payment processes.
In comparison to Dec 31, 2019, where the number of days of payables was 27.45 days, the current level of 20.25 days reflects a notable decrease, suggesting that Proto Labs Inc is able to pay its suppliers more quickly.
Overall, the decreasing trend in the number of days of payables over the past five years indicates a positive development in Proto Labs Inc's ability to manage its payables efficiently.
Peer comparison
Dec 31, 2023