Patterson-UTI Energy Inc (PTEN)
Number of days of payables
| Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Payables turnover | 1.33 | 1.11 | 0.96 | 0.72 | 0.59 | 0.40 | 0.55 | 0.45 | 0.51 | 0.57 | 0.59 | 0.72 | 0.76 | 0.70 | 0.97 | 1.17 | 5.75 | 7.09 | 7.63 | 4.04 | |
| Number of days of payables | days | 274.18 | 328.81 | 380.40 | 507.01 | 618.92 | 905.85 | 662.04 | 819.84 | 721.31 | 638.67 | 623.09 | 506.02 | 478.07 | 525.09 | 377.63 | 312.13 | 63.48 | 51.49 | 47.82 | 90.32 |
December 31, 2024 calculation
Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 1.33
= 274.18
The number of days of payables for Patterson-UTI Energy Inc has shown significant fluctuations over the period from March 31, 2020, to December 31, 2024.
The number of days of payables started at 90.32 days on March 31, 2020, decreased considerably to 47.82 days by June 30, 2020, indicating the company was able to manage its payables more efficiently. However, this trend reversed as the number of days of payables increased to 312.13 days by March 31, 2021, and reached its peak at 905.85 days by September 30, 2023.
Subsequently, there was a significant decline in the number of days of payables, dropping to 274.18 days by December 31, 2024. This could indicate that the company improved its payables management during this period, possibly negotiating better terms with suppliers or prioritizing the settlement of outstanding payables.
Overall, the fluctuation in the number of days of payables reflects changes in the company's liquidity position, cash flow management, and relationships with suppliers. Investors and analysts may monitor this metric closely to assess the efficiency of Patterson-UTI Energy Inc's working capital management and its ability to meet its short-term obligations.
Peer comparison
Dec 31, 2024