Snap-On Inc (SNA)
Number of days of payables
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Payables turnover | 0.39 | 0.25 | 0.29 | 0.54 | 0.56 | |
| Number of days of payables | days | 937.11 | 1,473.35 | 1,250.91 | 681.97 | 652.73 |
December 31, 2023 calculation
Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 0.39
= 937.11
Over the past five years, Snap-On Inc's number of days of payables has varied significantly. In 2023, the company took approximately 937 days to pay its creditors, which marks a significant decrease compared to the previous year when it took 1,473 days. This indicates an improvement in the company's ability to manage its payables more efficiently.
Compared to 2021, when the number of days of payables was 1,250 days, the company further reduced its payables period in 2023. However, it is worth noting that in 2020 and 2019, the number of days of payables was lower at 682 days and 653 days, respectively.
Overall, Snap-On Inc's number of days of payables has shown some fluctuations over the years, possibly reflecting changes in the company's payment policies, relationships with suppliers, or inventory management. This metric is important as it provides insights into the company's cash flow management and its ability to meet its financial obligations in a timely manner.
Peer comparison
Dec 31, 2023