Patterson-UTI Energy Inc (PTEN)
Number of days of payables
| 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 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Payables turnover | 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 | 1.01 | 1.82 | 1.49 | 1.39 | |
| Number of days of payables | days | 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 | 362.71 | 200.43 | 245.57 | 262.06 |
December 31, 2023 calculation
Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 0.59
= 618.92
Patterson-UTI Energy Inc's number of days of payables has exhibited some variability over the past eight quarters. In Q3 2023, the company took approximately 98.15 days to pay off its liabilities, indicating a potential slowdown in its payables turnover. This extended payment period was notably higher compared to the previous periods, such as Q2 2023 and Q1 2023, where the number of days of payables stood at 45.68 days and 51.60 days, respectively.
Furthermore, in Q4 2023, the number of days of payables decreased to 70.45 days, suggesting an improvement in the company's efficiency in managing its payables. This reduction may reflect a more streamlined approach to settling obligations to suppliers and creditors.
Comparing to the same quarter of the previous year, Q4 2022 had a slightly lower number of days of payables at 48.27 days, indicating a quicker turnover in paying off liabilities. However, in Q3 2022, the company experienced a higher number of days of payables at 58.03 days, suggesting a similar trend to the recent Q3 2023 figure.
Overall, monitoring Patterson-UTI Energy Inc's number of days of payables is essential for assessing the company's liquidity and efficiency in managing its working capital. A decreasing trend in this ratio could indicate improvements in cash flow management and financial health, while an increasing trend may raise concerns about potential liquidity challenges or changes in payment terms with suppliers.
Peer comparison
Dec 31, 2023