Gibraltar Industries Inc (ROCK)
Number of days of payables
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Payables turnover | 11.03 | 10.05 | 6.09 | 5.76 | 9.34 | |
| Number of days of payables | days | 33.10 | 36.31 | 59.90 | 63.36 | 39.08 |
December 31, 2023 calculation
Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 11.03
= 33.10
The number of days of payables for Gibraltar Industries Inc. has shown some fluctuations over the past five years. In 2023, the company took approximately 33.10 days to pay its payables, a decrease from the previous year when it took 36.31 days. This indicates that the company has been able to manage its payables more efficiently in 2023.
Comparing to 2021 and 2020 when the number of days of payables were 59.90 days and 63.36 days respectively, the company has significantly improved its payable management. However, it is worth noting that in 2019, the number of days of payables was lower at 37.81 days compared to 2023.
Overall, the trend in the number of days of payables for Gibraltar Industries Inc. shows a mixed performance with improvements in recent years compared to 2021 and 2020, but not as strong as in 2019. This metric is important as it reflects the company's ability to effectively manage its working capital and vendor relationships.
Peer comparison
Dec 31, 2023