Patterson-UTI Energy Inc (PTEN)
Number of days of payables
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Payables turnover | 0.59 | 0.51 | 0.76 | 5.86 | 1.08 | |
| Number of days of payables | days | 617.49 | 721.30 | 477.64 | 62.26 | 337.81 |
December 31, 2023 calculation
Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 0.59
= 617.49
Patterson-UTI Energy Inc's number of days of payables has fluctuated over the past five years. In 2023, the company had an average of 70.45 days to pay its accounts payable, which represents an increase from the previous year. This indicates that the company took longer to settle its outstanding bills in 2023 compared to 2022.
Compared to 2021 and 2020, where the number of days of payables was 66.79 days and 43.67 days respectively, the trend has been inconsistent. The increasing trend from 2020 to 2023 may suggest a change in the company's payment policies or its ability to manage its cash flow effectively.
However, when comparing to 2019, where the number of days of payables was 36.72 days, it shows a significant increase, indicating that the company is taking longer to pay its bills in 2023 than it did four years ago.
Overall, a higher number of days of payables could point towards liquidity issues or potential strain on the company's working capital. It is important for investors and stakeholders to monitor this trend closely to assess Patterson-UTI Energy Inc's financial health and ability to meet its obligations in a timely manner.
Peer comparison
Dec 31, 2023