Reliance Steel & Aluminum Co (RS)
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 | 31.30 | 29.16 | 26.92 | 25.65 | 34.68 | 30.26 | 21.36 | 20.82 | 26.29 | 19.23 | 18.18 | 20.93 | 29.18 | 29.96 | 33.63 | 26.02 | 26.00 | 19.69 | 18.56 | 14.13 | |
| Number of days of payables | days | 11.66 | 12.52 | 13.56 | 14.23 | 10.52 | 12.06 | 17.09 | 17.53 | 13.88 | 18.98 | 20.07 | 17.44 | 12.51 | 12.18 | 10.85 | 14.03 | 14.04 | 18.53 | 19.67 | 25.83 |
December 31, 2023 calculation
Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 31.30
= 11.66
Reliance Steel & Aluminum Co.'s number of days of payables has fluctuated over the quarters, ranging from a low of 12.78 days in Q4 2022 to a high of 21.47 days in Q1 2022. In the most recent quarter, Q4 2023, the number of days of payables decreased slightly to 14.60 days compared to the previous quarter.
A lower number of days of payables indicates that the company takes less time to pay its suppliers, which may imply efficient management of working capital. Conversely, a higher number of days of payables may suggest a potential strain on cash flow or liquidity.
Monitoring the trend of days of payables over time can provide insight into the company's payment practices and its ability to manage its financial obligations effectively. Further analysis and comparison with industry benchmarks or competitors may offer additional context to evaluate Reliance Steel & Aluminum Co.'s performance in managing its payables.
Peer comparison
Dec 31, 2023