RPC Inc (RES)
Number of days of payables
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Payables turnover | 16.25 | 11.48 | 11.55 | 22.19 | 24.05 | |
| Number of days of payables | days | 22.46 | 31.79 | 31.60 | 16.45 | 15.18 |
December 31, 2023 calculation
Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 16.25
= 22.46
Over the past five years, the number of days of payables for RPC, Inc. has shown some fluctuations. In 2023, the company's number of days of payables decreased to 28.49 days from 38.65 days in 2022. This indicates that the company took fewer days to pay its suppliers and vendors in 2023 compared to the previous year.
In comparison to 2021 and 2020, where the number of days of payables were 40.95 days and 31.19 days respectively, 2023 saw a significant improvement in managing its payables.
However, the number of days of payables in 2019 was the lowest at 21.09 days, suggesting that the company took the shortest time to pay its obligations to suppliers in that year.
Overall, a decreasing trend in the number of days of payables over the last two years indicates that RPC, Inc. has been managing its payables efficiently and is paying its suppliers in a more timely manner. However, a comparison with 2019 shows a deviation from this trend. It would be important to assess the company's payment practices and supplier relationships to understand the reasons behind these fluctuations.
Peer comparison
Dec 31, 2023